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4. Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net income for the 2021 fiscal year was
4. Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net income for the 2021 fiscal year was $669,000. Depreciation and amortization expense of $96,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash: 15 points Decrease in accounts receivable Increase in inventory Increase in prepaid expenses Increase in salaries payable Decrease in income taxes payable $31,000 10,100 9,400 10,900 20,000 Book Print References Required: Prepare the operating activities section of the 2021 statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities Adjustments for noncash effects: Changes in operating assets and liabilities
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