Mattix Corporation's balance sheet and income statement appear below: The company sold equipment for $20 that was originally purchased for $7 and that had accumulated depreciation of $1.It paid a cash dividend during the year and did not issue any bonds payable or repurchase any of its own common stock.
Required:
Determine the net cash provided by (used in)operating activities for the year using the indirect method.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset over its useful life.

Indirect Method

A technique used in cash flow statements where net income is adjusted for non-cash transactions and changes in working capital to calculate net cash from operating activities.

Cash Dividend

A distribution of a portion of a company’s earnings, decided by the board of directors, to a class of its shareholders in the form of cash.