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Cain Inc. reports net income of $18,600. Its comparative balance sheet shows the following changes: accounts receivable increased $9,600; inventory decreased $11,600; prepaid insurance decreased
Cain Inc. reports net income of $18,600. Its comparative balance sheet shows the following changes: accounts receivable increased $9,600; inventory decreased $11,600; prepaid insurance decreased $4,600; accounts payable increased $6,600 and taxes payable decreased $5,600. 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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