Olympic, Inc., had the following positive and negative cash flows during the current year:
Positive cash flows: |
|
Received from customers | $240,000 |
Interest and dividends | 50,000 |
Sale of plant assets | 330,000 |
Negative cash flows: |
|
Paid to suppliers and employees | $127,000 |
Purchase of investments | 45,000 |
Purchase of treasury stock | 36,000 |
Determine the amount of cash provided by or used for operating activities by the direct method.
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