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Question(s) / Instruction(s):

A company's income statement showed the following: net income, $141,000; depreciation expense, $38,500; and gain on sale of plant assets, $22,500. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $11,100; merchandise inventory increased $26,500; prepaid expenses decreased $7,900; accounts payable increased $5,100. Calculate the net cash provided or used by operating activities.

a)            -$177,100

b)            $152,600

c)            -$159,400

d)            $180,600

e)            $154,600

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