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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
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: End of Year Account Cash Trade Receivables (net) Inventories Prepaid Expenses Accounts Payable Salaries Payable Dividends Payable Interest Received on Investments 42,875 147,500 109,375 9,250 57,000 7,625 4,250 1,800 Beginning of Year 36,250 137,500 93,750 11,875 40,000 10,625 3,125 1,500 Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method
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