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7 Monty Corp. reported net income of $191,900 for 2022. Monty also reported depreciation expense of $44,600 and a loss of $4,600 on the disposal
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Monty Corp. reported net income of $191,900 for 2022. Monty also reported depreciation expense of $44,600 and a loss of $4,600 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $15,100 for the year, a $17,100 increase in accounts payable, and a $3,000 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) Monty Corp. Statement of Cash Flows (Partial) - Indirect Method Adjustments to reconcile net income to Adjustments to reconcile net income to eTextbook and Media Save for Later $ Attempts: unlimited Submit Step by Step Solution
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