Shim Company presents its statement of cash flows using the indirect method The following accounts and corresponding balances were drawn from Shim's Year 2 and Year 1 yer-end balance sheets. Year 2 Year 1 Accounts receivable $31,528 $37,834 1,9321,691 302 9,986 11,983 7,452 2,802 2,852 3,803 Account Title Prepaid rent Interest receivable Accounts payable Salaries payable Unearned revenue 377 Cash flows from operating activities: $52,529 t incom The Income statement reported a $1,640 gain on the sale of equipment, an $960 loss on the sale of land, and $3,400 of depreclatior expense. Net income for the period was $52,629. Plus Depreciation expense Loss an sale ot land Decrease in prepaid rent Less Gain on sale of equipmerit Dgcrease in accounts receivable Derrease in salaries payable Decrease in uncarned revenue $52,629 Net cash fiow trom operating activihes 754, 441px 1912 825px 100% Type here to search