Question
Statement of Cash Flows Amelia's Bookstore reported net income of $60,000 for the current year. The following information is also available for the year:
Statement of Cash Flows Amelia's Bookstore reported net income of $60,000 for the current year. The following information is also available for the year: $5,000 depreciation expense, $5,000 increase in inventory, $2,000 decrease in accounts receivable, and $1,100 decrease in accounts payable. Using the indirect method, prepare the operating activities section of the statement of cash flows for Amelia's for the current year. Use a minus sign for any negative amounts. Operating Activities: Net income AMELIA'S BOOKSTORE Statement of Cash Flows (Partial) For Year Ended December 31, Current Year Adjustments for differences between income flows and cash flows from operating activities: Net cash provided by operating activities Statement of Cash Flows Amelia's Bookstore reported net income of $60,000 for the current year. The following information is also available for the year: $5,000 depreciation expense, $5,000 increase in inventory, $2,000 decrease in accounts receivable, and $1,100 decrease in accounts payable. Using the indirect method, prepare the operating activities section of the statement of cash flows for Amelia's for the current year. Use a minus sign for any negative amounts. Operating Activities: Net income AMELIA'S BOOKSTORE Statement of Cash Flows (Partial) For Year Ended December 31, Current Year Adjustments for differences between income flows and cash flows from operating activities: Net cash provided by operating activities
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