Kennedy, Inc., reported the following data: Net income $146,004 Depreciation expense 15,222 Loss on disposal of equipment (9,364) Gain on sale of building 18,547 Increase in accounts receivable 9,677 Decrease in accounts payable (2,611) Prepare 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 Flows Cash flows from (used for) Operating activities (Increase in accounts payable, increase in accounts receivable, loss on disposal of equipment, net income, prepaid insurance, Adjustments to reconcile net income to net cash flows from (used for ) operating activities: Depreciation expense, equipment, increase in accounts payable/receivable, supplies. Changes in current operating assets and liabilities: Gain on sale of building, increase in accounts receivable, loss of disposal of equipment, depreciation, increase in accounts payable

Kennedy, Inc., reported the following data: Net income Depreciation expense Loss on disposal of equipment Gain on sale of building Increase in accounts receivable Decrease in accounts payable $146,004 15,222 (9,364) 18,547 9,677 (2,611) Kennedy, Inc. Statement of Cash Flows Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities