Solution-Prepare the cash flows from operating activities

Prepare the cash flows from operating activities

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Reference no: EM13516691

The income statement disclosed the following items for 2008:

Depreciation expense	$ 24,500
Gain on disposal of equipment	10,200
Net income	186,000

Balances of the current assets and current liability accounts changed between December 31, 2007, and December 31, 2008, as follows:

Accounts receivable	$4,400
Inventory	2,000*
Prepaid insurance	800*
Accounts payable	2,700*
Income taxes payable	900
Dividends payable	500
*Decrease

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

Reference no: EM13516691

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Prepare the cash flows from operating activities

Reference no: EM13516691

Reference no: EM13516691

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