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Use the following information and the indirect method to calculate the net cash provided or used by operating activities:
Net income $85,800
Depreciation expense 12,500
Gain on sale of land 8,000
Increase in merchandise inventory 2,550
Increase in accounts payable 6,650
a. $37,400.
b. $13,150.
c. $94,400.
d. $14,150.
e. $29,400.
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