QUESTION 7 For the fiscal year ended December 31, 2015, Brace Incorporated reported: Net income of $6,000, which includes Depreciation expense totaling $1,200 A loss on sale of equipment of $200 The company did not use or receive cash for any investing or financing activities. Relevant excerpts from Brace's balance sheets for 2015 and 2014 are as follows: 6 points Balance at Balance at Year-end Year-end 2015 2014 Accounts 3,000 2,000 Receivable Inventory 2,000 4,000 Prepaid Insurance 620 700 Accounts Payable 1,200 1,000 Wages Payable 2,700 2,900 Unearned Revenue 900 600 Use the template below to prepare the Operating Cash Flows section of Brace's Statement of Cash Flows for 2015. If an adjustment is negative, enter it with a sign, e.g., -500. For positive adjustments, just enter the dollar amount, e.g., 500. Net Income Adjustments for: Depreciation expense Loss on sale of equipment Accounts receivable Inventory Prepaid insurance Accounts payable Wages payable Unearned revenue Net Cash from Operating Activities $8,780 Save Answer