Question
The net income reported on the income statement of Hunter Inc. for the current year was $150,000.Depreciation recorded on equipment and building amounted to $45,000
The net income reported on the income statement of Hunter Inc. for the current year was $150,000.Depreciation recorded on equipment and building amounted to $45,000 for the year.Balances of the current asset and current liability accounts at the beginning and end of the year are as follows
Account End of Year Beginning of Year
Cash 42,875 36,250
Trade Receivables (net) 147,500 137,500
Inventories 109,375 93,750
Prepaid Expenses 9,250 11,875
Accounts Payable 57,000 40,000
Salaries Payable 7,625 10,625
Dividends Payable 4,250 3,125
Interest Received on Investments 1,800 1,500
How do i prepare the cash flows from operating activities of the statement of cash flow using the indirect method?
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