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Cain Inc. reports net income of $17,800. Its comparative balance sheet shows the following changes: accounts receivable increased $8,800; inventory decreased $10,800; prepaid insurance decreased
Cain Inc. reports net income of $17,800. Its comparative balance sheet shows the following changes: accounts receivable increased $8,800; inventory decreased $10,800; prepaid insurance decreased $3,800; accounts payable increased $5,800 and taxes payable decreased $4,800. Compute cash flows from operations using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Cash Flows from Operating Activities (Indirect) Adjustments to reconcile net income to net cash provided by operating activities Changes in current assets and liabilities
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