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A company reported net income of $240,000 for the current year. Depreciation recorded on buildings and equipment amounted to $80,000 for the year. Balances of

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A company reported net income of $240,000 for the current year. Depreciation recorded on buildings and equipment amounted to $80,000 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000). Prepare the cash flows fromoperating activities section of the statement of cash flows using the indirect method, (Show amounts that decrease cash flow with either a - sign es. 15,000 or in parenthesis eg. (15,000).)

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