Problem
Net income was $66, 300; accounts receivable decreased by $16, 500; inventory increased by $7, 500; proceeds from the issuance of long-term debt were $21, 600; accounts payable decreased by $5, 600; equipment purchases were $71,000; depreciation and amortization expense was $28, 400. (Amounts to be deducted should be indicated with a minus sign.) Calculate the net cash provided (used) by operating activities for the period.