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The accounting records of Colton Industries provided the data below for the year ended December 31, 2018: Net income $300,000 Depreciation expense 15,000 Decrease in
The accounting records of Colton Industries provided the data below for the year ended December 31, 2018:
Net income | $300,000 |
Depreciation expense | 15,000 |
Decrease in inventory | 2,000 |
Increase in accounts receivable | 1,400 |
Increase in interest payable | 1,600 |
Amortization of bond premium | 3,000 |
Decrease in accounts payable | 7,000 |
Cash dividends paid | 20,000 |
Required:
In good form, prepare the operating activities section of the statement of cash flows for 2018 using the indirect method.
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