Calculate amount of cash provided by or used for operating

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Reference no: EM13140644

Georgia Products Co. had the following positive cash flows during the current year: received cash from customers of $ 750,000; received bank loans of $ 35,000; and received cash from the sale of common stock of $ 145,000. During the same year, cash was paid out to purchase inventory for $ 335,000, to employees for $ 230,000, and for the purchase of plant assets of $ 190,000. Calculate the amount of cash provided by or used for operating activities by the direct method.

Reference no: EM13140644

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