Macgregor Company completed its first year of operations on December 31, 2020. Its initial income statement showed that Macgregor had revenues of $192,000 and operating expenses of $78,000. Accounts receivable and accounts payable at year-end were $60,000 and $23,000, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes. Compute net cash provided by operating activities using the direct method. (Show amounts that decrease cash flow with either a - sign e. g. -15,000 or in parenthesis e. g. (15,000).) Net cash provided by operating activities
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Macgregor Company completed its first year of operations on December 31, 2020. Its initial income st...
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