Inter-Finance Corporation had a net income of $16,500 during 20x7. During the year, the company had depreciation
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Inter-Finance Corporation had a net income of $16,500 during 20x7. During the year, the company had depreciation expense of $7,000. Accounts Receivable increased by $5,500, and Accounts Payable increased by
$2,500. Those were the company’s only current assets and current liabilities. Use the indirect method to determine net cash flows from operating activities.
Computing Cash Flows from Operating Activities: Indirect Method
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