Reference no: EM132823396

Question - Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net income for the 2021 fiscal year was $639,000. Depreciation and amortization expense of $90,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash:

Decrease in accounts receivable $25,000

Increase in inventory 9,500

Increase in prepaid expenses 8,800

In salaries payable 10,300

Decrease in income taxes payable 14,000

Required - Prepare the operating activities section of the 2021 statement of cash flows.