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Preparing Operating Activities Section Quest Company reported net income of $49,500, which included depreciation expense of $2,200 and a loss on sale of equipment of

image text in transcribed Preparing Operating Activities Section Quest Company reported net income of $49,500, which included depreciation expense of $2,200 and a loss on sale of equipment of $660. On the balance sheet, the company reported the following: increases in accounts receivable of $2,420 and accounts payable of $4,480, and decreases in inventory of $1,320 and in salaries payable of $880. Prepare the operating activities section of the statement of cash flows using the indirect method. Note: If an item is not required for this section, leave the answer blank (zero)

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