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Amount Descriptions Decrease in accounts payable Decrease in accounts receivable Depreciation Gain from disposal of equipment Gain on sale of building Increase in accounts payable
Amount Descriptions Decrease in accounts payable Decrease in accounts receivable Depreciation Gain from disposal of equipment Gain on sale of building Increase in accounts payable Increase in accounts receivable Loss from disposal of equipment Loss on sale of building Net cash flow from operating activities Net cash flow used for operating activities Net income Net loss Kennedy, Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Gain on sale of building Increase in accounts receivable Decrease in accounts payable $166,458 15,310 9,615 21,633 9,538 3,905 Required Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. Refer to the list of Amount Descriptions for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. Refer to the list of Amount Descriptions for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required. Statement of Cash Flows (partial) 1 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: 7Changes in current operating assets and liabilities: 10
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