Calculate cash flows from operations-indirect method
Response to the following problem:
Net income was $44,700; accounts receivable decreased by $12,000; inventory increased by $7,200; proceeds from the issuance of long-term debt were $15,000; accounts payable decreased by $4,100; equipment purchases were $50,000; depreciation and amortization expense was $22,500.
Required: Calculate the net cash provided (used) by operating activities for the period.