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Maritime Transportation (MT) began 2020 with accounts receivable, inventory, and prepaid expenses totalling $65,000. At the end and at year-end, current liabilities totalled $37.000 Net

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Maritime Transportation (MT) began 2020 with accounts receivable, inventory, and prepaid expenses totalling $65,000. At the end and at year-end, current liabilities totalled $37.000 Net income for the year was $88,000 Included in net income were a $3,000 ga Show how MT should report cash flows from operating activities for 2020 MT uses the indirect method. 88,000 (Use parentheses or a minus sign for numbers to be subtracted or a net decrease in cash.) Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities Depreciation (5000) Gain on sale of land (3,000) Increase in accounts receivable, inventory, and prepaid expenses (7.000) Decrease in current liabilities (4.000 Net cash provided by operating activities (19,000) 69,000 of the year, MT had a total of $72,000 for these current assets. At the beginning of 2020, MT owed current liabilities of $41000, gain on the sale of land and depreciation expense of $5,000

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