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Plan Company prepares its statement of cash flows using the indirect method. Indicate whether each of the items below would be added to (+) or
Plan Company prepares its statement of cash flows using the indirect method. Indicate whether each of the items below would be added to (+) or deducted from (-) net income to determine net cash flows from operating activities. Decrease in Inventory Decrease in Accounts Payable Depreciation Expense loss on Disposal of Truck Increase in Accounts Receivable Increase in Wages Payable Amortization Expense Increase in Prepaid Rent Gain on Sale of Land Increase in Income Taxes Payable Following are the income statement and other information for Knox Corporation. Accounts receivable (net) decreased by $750 during the year. Inventory increased by $450, and Accounts Payable decreased by $600 during the year. Income Taxes Payable increased by $150 during the year. Prepare a schedule of cash flows from operating activities using the indirect method
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