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Thank you! Bonita Company reported net income of $260,000 for 2020 . Bonita sold equipment that cost $103,000 and had a book value of $61,800
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Bonita Company reported net income of $260,000 for 2020 . Bonita sold equipment that cost $103,000 and had a book value of $61,800 for $53,800. The comparative balance sheet shows a decrease in accounts receivable of $18,000 for the year, a $13,000 increase in accounts payable, a $5,000 increase in prepaid expenses, and a $16,000 increase in accumulated depreciation. Prepare the operating activities section of the statement of cash flows for 2020 . Use the indirect method. (Show amounts that decreas cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000)Step by Step Solution
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