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Please complete the Statement of Cash Flows (partial) from the information giving in the first picture. Thank you! Cash Flows from Operating Activities-Indirect Method The

Please complete the Statement of Cash Flows (partial) from the information giving in the first picture. Thank you! image text in transcribed
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Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $147,900. Depreciation recorded on store equipment for the year amounted to $24,400. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $58,120 $52,890 Accounts receivable (net) 41,670 39,090 Inventories 56,900 59,500 Prepaid expenses 6,390 5,020 Accounts payable (merchandise creditors) 54,460 50,030 Wages payable 29,760 32,690 a. 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 outflows, cash payments, decreases in cash, or any negative adjustments, Statement of Cash Flows (partial) Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Changes in current operating assets and liabilities: Increase in accounts receivable 2.580 Decrease in inventories 2,600 Increase in prepaid expenses 1.370 Increase in accounts payable 4.430 Decrease in wages payable 2.930 X Net cash flow from operating activities

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