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Kennedy, Inc. reported the following data: Net income $130,321 Depreciation expense 12,675 Loss on disposal of equipment (11,460) Gain on sale of building 21,865 Increase
Kennedy, Inc. reported the following data:
Net income $130,321
Depreciation expense 12,675
Loss on disposal of equipment (11,460)
Gain on sale of building 21,865
Increase in accounts receivable 10,561
Decrease in accounts payable (2,593)
Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments.
Kennedy, Inc. Statement of Cash Flow Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from oper Changes in current operating assets and liabilities: Net cash flow from operating activitiesStep by Step Solution
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