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Chew Corporation prepares its statement of cash flows using the indirect method of reporting operating activi- ash ties. Net income for the 2018 fiscal year
Chew Corporation prepares its statement of cash flows using the indirect method of reporting operating activi- ash ties. Net income for the 2018 fiscal year was $1,250,000. Depreciation expense of S140,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash: Increase in accounts receivable Decrease in inventories Decrease prepaid expenses Decrease in salaries payable Increase in income taxes payable $152,000 108,000 62,000 30,000 44,000 Required Calculate cash flows from operating activities for 2018
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