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MNO Corporation needs to prepare a statement of cash flows for the year ended December 31, 20XX, using the indirect method. The following information is

  • MNO Corporation needs to prepare a statement of cash flows for the year ended December 31, 20XX, using the indirect method. The following information is available:

    • Net income: $200,000
    • Depreciation expense: $50,000
    • Increase in accounts receivable: $20,000
    • Decrease in accounts payable: $30,000
    • Gain on sale of equipment: $10,000

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