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Prepare the operating activities section of the statement

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Problem - Hardware Suppliers reports net Income of $154,000. Included In net income is a gain on the sale of land of $14,500. A comparison of this year's and last year's balance sheets reveals an Increase In accounts receivable of $24,000, an Increase. In Inventory of $14,500, and a decrease In accounts payable of $44,000. Prepare the operating activities section of the statement of cash flows using the indirect method.

Reference no: EM133015788

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