Gutierrez Company reported net income of $196,100 for 2020. Gutierrez also reported depreciation expense of $47,400 and a loss of $5,600 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $10,000 for the year, a $12,000 increase in accounts payable, and a $3,200 decrease in prepaid expenses Prepare the operating activities section of the statement of cash flows for 2020. Use the indirect method. (Show amounts that decrease cash flow with either a signe.. -15,000 or in parenthesis (15,000).) GUTIERREZ COMPANY Partial Statement of Cash Flows For the Year Ended December 31, 2020 V Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating activities DER Loss on Disposal of Punt Assets Decrease in Accounts Recolvable. Brief Exercise 16-03 Your answer is partially correct. Try again. Carla Vista Company owns 30% of Lauer Company. For the current year, Lauer reports net income of $245,000 and declares and pays a $49,000 cash dividend. Record Carla Vista's equity in Lauer's net income and the receipt of dividends from Lauer. (Credit account titles are automatically indented when amount is entered indent manually. If no entry is required select "No entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debat Dec. 31 Unrealized Gain or Loss-Income Fair Value Adjustment Trading (To record equity in Lauer's net income) Dec. 31 Fair Value Adjustment Available for Sale unrealized Gain or Loss-Equity (To record dividends received) Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS