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Net income $254,000 Depreciation expense 62,600 Loss on disposal of equipment 39,800 Increase in accounts receivable 20,100 Increase in accounts payable 10,600 Prepare the Cash
Net income $254,000 Depreciation expense 62,600 Loss on disposal of equipment 39,800 Increase in accounts receivable 20,100 Increase in accounts payable 10,600 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the Indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Staley Inc Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Increase in accounts payable sets and liabilities: Loss on disposal of equipment Net cash flow from operating activities
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