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Harrison Industries began 2018 with accounts receivable, inventory, and prepaid expenses totaling $46,000 and its total current abilities totaling $31,000. At the end of the

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Harrison Industries began 2018 with accounts receivable, inventory, and prepaid expenses totaling $46,000 and its total current abilities totaling $31,000. At the end of the year, these same current assets totaled 562,000, while its total current liabilities totaled $22,000. Net Income for the year was 588,000. Included in net income were a $9,000 gain on the sale of land and depreciation expense of $4,000 Show how Harrison should report cash flows from operating activities for 2018. The company uses the Indirect method (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash) 88000 Cash flows from operating activities: Not income Adjustments to reconcile net income to net cash provided by (used for operating activities: Depreciation Gain on sale of land Increase in accounts receivable, Inventory, and prepaid expenses Decrease in current liabilities Net cash provided by used for) operating activities

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