Majorn Auto Parts Store had net income of $81,000 for the year just ended. Majorn collected the following additional information to prepare its statement of cash flows for the year:
|
Increase in accounts receivable |
$102,000 |
|
Decrease in merchandise inventory |
$18,000 |
|
Decrease in accounts payable |
$35,000 |
|
Increase in retained earnings |
$29,000 |
|
Cash received from sale of building |
$215,000 |
|
Gain on sale of building |
$47,000 |
|
Depreciation expense |
$32,000 |
Majorn uses the indirect method to prepare its statement of cash flows. What is Majorn”s net cash provided (used) by operating activities?
A) $41,000
B) $(53,000)
C) $185,000
D) $279,000