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Make the operating activities section of the statement

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Alfonza Incorporated presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from the company's Year 2 and Year 1 year-end balance sheets:

Account Title               Year 2       Year 1

Accounts receivable     $14,600     $18,400

Accounts payable             8,800      10,450

  • The Year 2 income statement showed net income of $28,700.

Required

Question a. Prepare the operating activities section of the statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.)

Reference no: EM132495681

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