BE17.8 (LO 2) AP Singh Ltd. reported the following information in its balance sheet and income statement for the year ended March 31, 2024:
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BE17.8 (LO 2) AP Singh Ltd. reported the following information in its balance sheet and income statement for the year ended March 31, 2024: 2024 2023 Accounts receivable $40,000 $60,000 Inventory 63,000 70,000 Prepaid expenses 4,000 2,000 Accounts payable 35,000 40,000 Income tax payable 16,000 10,000 Depreciation expense 50,000 Gain on sale of equipment 45,200 Profit for the year 330,000 Calculate the net cash provided (used) by operating activities using the indirect method.
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