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Maxter Coporation began the yoar with aocounts rocoivable, inventory, and prepaid expenses totaling $66,000. Al the end of the year, Maxinr had a lotal or
Maxter Coporation began the yoar with aocounts rocoivable, inventory, and prepaid expenses totaling $66,000. Al the end of the year, Maxinr had a lotal or 572.000 for these current assets. At the beginning of the year, E owed current liabilities of $45,000, and at year-end, current fiablitios totaled $40,000. Not income for the year was $60,000. Incuded in net inoome was a $1,000 pain on the sale of land and depreciation expense of $8,000. Show haw Maxder should report cath flows from operating activities for the year. The company usea the indrect method. (Use parentheses or a minus sign for numben bo be subtraded) Statement of Cash Flows-Operating Activities Section (Indirect Method)
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