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Prepare the operating activities section of the statement

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Question - A company reports net income of $150,000. Included in net income is a gain on the sale of land of $12,500. A comparison of this year's and last year's balance sheets reveals an increase in accounts receivable of $20,000, an increase in inventory of $12,500, and a decrease in accounts payable of $40,000. Prepare the operating activities section of the statement of cash flows using the indirect method.

Reference no: EM133073691

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