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In 2019, La Jolla Company reported net income of $290,000 for the year. Depreciation expense...

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Accounting

In 2019, La Jolla Company reported net income of $290,000 for the year. Depreciation expense was $30,000 and a loss on disposal of equipment of $15,000 was recorded. A comparative balance sheet for select accounts is listed below.

12/31/19

12/31/18

Increase (Decrease)

Accounts Receivable

$60,000

$40,000

$20,000

Inventory

90,000

120,000

(30,000)

Equipment

105,000

65,000

40,000

Accounts Payable

40,000

45,000

(5,000)

What is the net cash provided by operating activities in 2019 using the indirect method?

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