Question - Wave Rider Company completed its first year of operations on December 31, 2017. Its initial income statement showed that Wave Rider had revenues of $207,000 and operating expenses of $108,000. Accounts receivable and accounts payable at year-end were $80,000 and $28,000, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes.
Compute net cash provided by operating activities using the direct method.