• DEF Corporation needs to prepare a statement of cash flows for the year ended December 31, 20XX, using the indirect method. The following information is available:

  • Net income: $200,000
  • Depreciation expense: $50,000
  • Increase in accounts receivable: $20,000
  • Decrease in accounts payable: $30,000
  • Gain on sale of equipment: $10,000