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Business, 05.05.2020 06:32 gizmo50245

Lacey Company prepared the tabulation below at December 31, 2022. Net Income $310,000
Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation expense $45,000
Increase in accounts receivable $55,000
Decrease in inventory $12,000
Increase in accounts payable $6,000
Increase in prepaid expenses $4,000
Decrease in income taxes payable $3,500
Gain on disposal of land $7,500
Net cash provided (used) by operating activities

Show how each item should be reported in the statement of cash flows.

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Lacey Company prepared the tabulation below at December 31, 2022. Net Income $310,000
Adjustm...

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