For the year ended December 31, 2016, the Statement of Cash Flows for Johnson Family Auto Supply shows the following information
Net Cash Used by Operating Activities, $70,000; Net Cash Provided by Investing Activities, $45,000; and Net Cash Provided by Financing Activities, $40,000. Cash has increased by $155,000.
Indicate whether the statement is true or false
FALSE .Increase in cash: $(70,000 ) + $45,000 + $40,000 = $15,000
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