Bracewell Company reported net income of $195,000 for 2014. Bracewell also reported depreciation expense of $40,000 and

Question:

Bracewell Company reported net income of $195,000 for 2014. Bracewell also reported depreciation expense of $40,000 and a gain of $5,000 on disposal of plant assets. The comparative shows an increase in of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000 decrease in prepaid expenses.
Instructions
Prepare the operating activities section of the statement of cash flows for 2014. Use the indirect method.

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