Tate Company's 20X2 Income Statement and Changes in Selected Balance

Tate Company's 20X2 income statement and changes in selected balance sheet accounts are given below.Calculate the company's net cash provided or used by operating activities using the direct method.

$$\begin{array} { | l | r | } \hline \text { Increase in accounts receivable } & \$ 4,000 \\\hline \text { Increase in accounts payable (all accounts } & \\\hline \text { payable transactions are for inventory) } & 16,000 \\\hline \text { Increase in income taxes payable } & 300 \\\hline \text { Decrease in prepaid expenses } & 10,000 \\\hline \text { Decrease in merchandise inventory } & 14,000 \\\hline \text { Decrease in long-term notes payable } & 20,000 \\\hline\end{array}$$