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Marin Company reported net income of $480,000 for the current year. Depreciation recorded on buildings and equipment amounted to $80,000 for the year. Balances of
Marin Company reported net income of $480,000 for the current year. Depreciation recorded on buildings and equipment amounted to $80,000 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $21,000 $15,300 Accounts receivable 24,500 40,000 Inventory 54,500 70,000 Accounts payable 11,100 19,000 Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000).) MARIN COMPANY Partial Statement of Cash Flows Adjustments to reconcile net income to $
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