Problem 11-3A (Algo) Calculate operating activities-indirect method (LO11-3) Portions of the financial statements for Petoskey Technologies are provided below. Net sales Expenses: PETOSKEY TECHNOLOGIES Income Statement For the Year Ended December 31, 2024 Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income $200,000 63,000 16,300 23,500 PETOSKEY TECHNOLOGIES Selected Balance Sheet Data December 31, 2024, compared to December 31, 2023 Decrease in accounts receivable Increase in inventory Decrease in prepaid rent Increase in salaries payable Decrease in accounts payable Increase in income tax payable $335,000 302,800 $ 32,200 Prev $ 6,300 13,300 9,300 5,300 8,300 21,200 Required: Prepare the operating activities section of the statement of cash flows for Petoskey Technologies using the indirect metho to be deducted should be indicated with a minus sign.) PETOSKEY TECHNOLOGIES Statement of Cash Flows For the Year Ended December 31, 2024 2 of 3 Next >

Problem 11-3A (Algo) Calculate operating activities-indirect method (LO11-3) Portions of the financial statements for Petoskey Technologies are provided below. Required: Prepare the operating activities section of the statement of cash flows for Petoskey Technologies using the indirect meth to be deducted should be indicated with a minus sign.) Prepare the operating activities section of the statement of cash flows for Petoskey Technologies using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)