Question - Klutz Dance Studio had net income of $199,000 for the year just ended. Klutz collected the following additional information to prepare its statement of cash flows for the year:
Decrease in accounts receivable $32,000
Increase in accounts payable $19,000
Increase in retained earnings $108,000
Cash paid for purchase of new music equipment $28,000
Depreciation expense $6,600
Klutz uses the indirect method to prepare its statement of cash flows. What is Klutz's net cash provided by (used in) operating activities?