E14-11 Hairston Company completed its first year of operations on December 31, 2008. Its

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Hairston Company completed its first year of operations on December 31, 2008. Its
initial income statement showed that Hairston had revenues of $192,000 and operating expenses
of $78,000. Accounts receivable and accounts payable at year-end were $60,000 and $23,000, respectively.
Assume that accounts payable related to operating expenses. Ignore income taxes.

Instructions
Compute net cash provided by operating activities using the direct method