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During a recent year, Nicole's Getaway Spa (NGS) reported net income of $2,950. The compony reported the following activities: a. Increase in inventory of $370.
During a recent year, Nicole's Getaway Spa (NGS) reported net income of $2,950. The compony reported the following activities: a. Increase in inventory of $370. b. Depreciation of $2.700. c. Increase of $2.140 in prepaid expenses. d. Payments of $4,300 on long-term debt e. Purchased new spa equipment for $7,552. f. Payments on accounts payable exceeded purchases by $290. 9 . Collections on accounts recelvable exceeded credit sales by $829 h. Issued $11,000 of common stock. Required: Based on this information, prepare a statement of cash flows for the year ended December 31 using the indirect method. Assume the For the Year Ended December 31 Cash Flows from Operating Activities 1 points eBook Changes in Current Assets and Current Liabilities Cash Flow from investing Activities References
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