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Prepare a schedule that provides the operating cash flows

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Reference no: EM131697879

Question: The income statement for Piura Merchandising Corporation is as follows:

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Other information is as follows:

a. Accounts payable decreased by $20,000 during the year.

b. Accounts receivable increased by $20,000.

c. All wages were paid at the beginning of the year; at the end of the year, wages payable had a balance of $12,000.

d. Prepaid insurance increased by $24,000 during the year.

Operating Cash Flows Refer to the information for Piura Merchandising Corporation above.

Required: Prepare a schedule that provides the operating cash flows for the year using the indirect method.

Reference no: EM131697879

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