Cash Flows from Operating ActivitiesIndirect Method

Staley Inc. reported the following data:

Net income$258,200Depreciation expense78,400Loss on disposal of equipment38,800Increase in accounts receivable17,000Increase in accounts payable10,500

Prepare the Cash Flows from Operating Activities section of thestatement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

Staley Inc.Statement of Cash Flows (partial)Cash flows from operating activities:

$Adjustments to reconcile net income to net cash flow from operating activities:

Changes in current operating assets and liabilities:

Net cash flow from operating activities$