Cridberg Corporation's selling and administrative expenses for last year totaled $278,000. During the year the...
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Cridberg Corporation's selling and administrative expenses for last year totaled $278,000. During the year the company's prepaid expense account balance increased by $27,000 and accrued liabilities decreased by $21,000. Depreciation for the year was $43,000. Based on this information, selling and administrative expenses adjusted to a cash basis under the direct method on the statement of cash flows would be:
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