Prepare the operating activities section of the statement of cash flows, using the indirect method. -- USE THE INFORMATION ABOVE.

d

Selected information from Juno Ltd.'s statement of financial position and income statement is shown below: JUNO LTD Statement of Financial Position (partial) December 31 2015 2014 Current assets Accounts receivable Merchandise inventory Prepaid expenses $6,022 $12,220 4,860 2,060 6,350 3,100 Current liabilities Accounts payable Income tax payable Accrued liabilities Bank loan payable-current portion 2,170 731 1,370 4,94011,160 4,130 1,290 2,600 JUNO LTD Income Statement Year Ended December 31, 2015 Net sales Cost of goods sold Gross profit Operating expenses Profit from operations Interest expense Profit before income tax Income tax expense Profit $196,800 112,440 84,360 49,920 34,440 1,170 33,270 3,910 $29,360 Additional information: 1. 2. The bank loan was issued to finance the purchase of equipment. Operating expenses included depreciation expense of $11,550 and a loss of $4,320 on the disposal of equipment