Solution-Prepare the cash flows from operating activities

Prepare the cash flows from operating activities

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Reference no: EM132075199

Question - The Income Statement for disclosed the following items for 2015:

Depreciation expense	22000
Gain on disposal of equipment	10700
Net Income	192000

Balances of the current assets and current liability accounts changed between December 31, 2014, and December 31, 2015, as follows:

Accounts Receivable	3430
Inventory	(1700)*
Prepaid Insurance	(620)*
Accounts Payable	(2300)*
Income taxes payable	490
Dividends payable	410

Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method.

Reference no: EM132075199

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Prepare the cash flows from operating activities

Reference no: EM132075199

Reference no: EM132075199

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