13-1

Telfer, Inc.reported net income of $2.7 million in 2020. Depreciation for the year was $161,400, accounts receivable decreased $349,400, and accounts payable decreased $304,200. Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis eg. (15,000).) Telfer, Inc. Statement of Cash Flows-Indirect Approach Adjustments to reconcile net income to