• Prepare a statement of cash flows for JKL Corp for the year ended December 31, 20X1, using the indirect method. The following information is provided:

  • Net Income: $150,000
  • Depreciation Expense: $30,000
  • Increase in Accounts Receivable: $20,000
  • Increase in Inventory: $10,000
  • Decrease in Accounts Payable: $15,000
  • Gain on Sale of Equipment: $5,000