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The net income reported on the income statement for the current year was $127,500. Depreciation recorded on store equipment for the year amounted to $21,000.

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The net income reported on the income statement for the current year was $127,500. Depreciation recorded on store equipment for the year amounted to $21,000. Balances of the current asset and current llabilty accounts at the beginning and end of the year are as follows: a. Prepare the "Cash flows from (used for) operating activities" section of the statement of cash fows, using the iadirect method. Use the minus sign to indicate cash outfows, cash payments, decreases in cash, or any negative adjustments

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