Reference no: EM132436388

Question : The income statement of Concord Company is shown below

Additional information:

1. Accounts receivable decreased $290,000 during the year.

2. Prepaid expenses increased $170,000 during the year.

3. Accounts payable to suppliers of merchandise decreased $300,000 during the year.

4. Accrued expenses payable decreased $140,000 during the year.

5. Administrative expenses include depreciation expense of $70,000.

• Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2017, for Concord Company, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)