Majorn Auto Parts Store had net income of $81,000 for the year just ended.Majorn collected the following additional information to prepare its statement of cash flows for the year: Majorn uses the indirect method to prepare its statement of cash flows.What is Majorn's net cash provided by (used in) operating activities?

A) $41,000
B) $(53,000)
C) $185,000
D) $279,000

To calculate net cash provided by operating activities using the indirect method, we need to start with net income and make adjustments for non-cash items and changes in current assets and liabilities. Based on the information provided, we can make the following calculations:

Net income: $81,000
Depreciation expense: $135,000
Gain on sale of equipment: $(15,000)
Increase in accounts receivable: $(20,000)
Decrease in inventory: $7,000
Increase in accounts payable: $(70,000)

Net cash provided by (used in) operating activities = Net income + Depreciation expense + Gain on sale of equipment +/- Changes in current assets and liabilities
= $81,000 + $135,000 - $15,000 - $20,000 + $7,000 - $70,000
= $(53,000)

Therefore, the best choice is B.