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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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