Net Cash Flow From Operating Activities The following are accounting items taken from Tyrone Shoelaces Company's records
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Question:
Net Cash Flow From Operating Activities
The following are accounting items taken from Tyrone Shoelaces Company's records for 2016:
- Net income, $22,900
- Payment for purchase of land, $4,000
- Payment for retirement of bonds, $6,000
- Depreciation expense, $7,800
- Receipt from issuance of common stock, $7,000
- Patent amortization expense, $2,700
- Increase in accounts receivable, $3,400
- Payment of dividends, $5,000
- Decrease in accounts payable, $2,600
Required:
Prepare the net cash flow from operating activities section of Tyrone's 2016 statement of cash flows using the indirect method. Use a minus sign for any negative amounts.
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