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Suppose your company reports $190 of net income and $46 of cash dividends paid, and its comparative balance sheet indicates the following. Cash Accounts
Suppose your company reports $190 of net income and $46 of cash dividends paid, and its comparative balance sheet indicates the following. Cash Accounts Receivable Inventory Total Beginning $ 41 Ending $ 241 105 211 275 171 $ 421 $ 623 Salaries and Wages Payable $ 16 Common Stock Retained Earnings 130 $ 80 124 275 419 Total $ 421 $ 623 Required: 1. Prepare the operating activities section of the statement of cash flows, using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Answer is complete but not entirely correct.
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