Prepare the cash flows from operating activities

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Reference no: EM133184141

Question - Baxa Company prepared it's income statement for Year 2022:

Sales Revenue 840,000

Salary Expense (620,000)

Insurance Expense (21,000)

Depreciation Expense (81,000)

Gain on Sale of Equipment 12,000

Net Income 130,000

Other information:

Accounts receivable went down during the year by $4,000.

Salary payable went down during the year by $2,000.

Prepaid insurance went down during the year by $7,000.

Prepare the cash flows from operating activities for the statement of cash flows using the indirect method.

Reference no: EM133184141

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