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Ok guys here’s the question I was working:
Lino Co.’s worksheet for the preparation of its statement of cash flows included the following:
December 31 January 1
Accounts receivable $29,000 $23,000
Allowance for uncollectible accounts 1,000 800
Prepaid rent expense 8,200 12,400
Accounts payable 22,400 25,400
Lino’s net income is $150,000. What amount should Lino include as net cash provided by operating activities in the statement of cash flows?
My answer was 145,400$ but it turned out that the correct answer was 151,400$ am I wrong or there is a probelm with question?
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