Reference no: EM132892120
Problem - Net Cash Flow from Operating Activities - Verna Company's records provided the following information for 2019:
a. decrease in accounts payable, $4,600
b. loss on sale of land, $1,900
c. increase in inventory, $7,800
d. increase in income taxes payable, $2,700
e. net income, $68,400
f. patent amortization expense, $1,600
g. ordinary loss, $6,200
h. decrease in deferred taxes payable, $2,500
i. amortization of discount on bonds payable, $1,300
j. payment of cash dividends, $24,000
k. depletion expense, $5,000
l. decrease in salaries payable, $1,400
m. decrease in accounts receivable, $3,500
n. gain on sale of equipment, $6,100
o. proceeds from issuance of stock, $57,000
p. ordinary gain, $3,700
q. depreciation expense, $10,000
r. amortization of discount on investment in bonds, $1,500
Required - Prepare the operating activities section of Verna's 2019 statement of cash flows.