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Cash Flows from Operating ActivitiesIndirect Method Staley Inc. reported the following data: Net income $462,000 Depreciation expense 75,500 Loss on disposal of equipment 29,200 Increase
Cash Flows from Operating ActivitiesIndirect Method
Staley Inc. reported the following data:
Net income $462,000
Depreciation expense 75,500
Loss on disposal of equipment 29,200
Increase in accounts receivable 20,200
Increase in accounts payable. 10,200
Prepare the Cash Flows from Operating Activities section of thestatement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.
Staley Inc.
Statement of Cash Flows (partial)
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