Do It! Review 12-2 Partially correct answer. RL Photography reported net income of $122,700 for...
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Accounting
Do It! Review 12-2 Partially correct answer.
RL Photography reported net income of $122,700 for 2014. Included in the income statement were depreciation expense of $7,730, patent amortization expense of $4,908, and a gain on disposal of plant assets of $4,417. RL's comparative balance sheets show the following balances. 12/31/14 12/31/13 Accounts receivable $25,767 $33,129 Accounts payable 11,288 7,362 Calculate net cash provided by operating activities for RL Photography. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
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