Net income was $40,000; accounts receivable decreased by $10,000; inventory increased by $3,000; proceeds from the issuance of long-term debt were $22,500; equipment purchases were $75,000; depreciation expense was $16,000.The net cash provided (used)by operating activities for the period was:

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The Answer of Net income was $40,000; accounts receivable decreased by $10,000; inventory increased by $3,000; proceeds from the issuance of long-term debt were $22,500; equipment purchases were $75,000; depreciation expense was $16,000.The net cash provided (used)by operating activities for the period was:

Net Income Was $40,000; Accounts Receivable Decreased by $10,000; Inventory