1. This exercise is stumping me-
3. IndirectcalculationofoperatingcashflowsSpecialtyServicesInc.reportedanetincomeof$116,000fortheyearjustended,whichincludesan$18,000gainonthesaleoflong-terminvestments.Thefollowingdatawereobtainedfromcomparativebalancesheets:

   	Oct.31,20X2	Oct.31,20X1
   Tradeaccountsreceivable	$249,000	$203,000
   Merchandiseinventory	232,000	308,000
   Accumulateddepreciation:equipment	124,000	65,000
   Accountspayable	194,000	124,000
   Accruedliabilities	41,000	73,000

   Therewerenopurchasesordisposalsofequipmentduringtheyear.Thelong-terminvestmenthadacarrying(book)valueof$77,000andwassoldforcashonJune15.Onthebasisoftheprecedinginformation,determinethecashprovidedbyoperatingactivitiesfromNovember1,20X1throughOctober31,20X2.Thefirmusestheindirectmethodofstatementpreparation.

	YOUR ANSWERS
Net Income
Trade accounts receivable
Merchandise inventory
Accumulated depreciation: equipment
Accounts payable
Accrued liabilities
Gain on sale of investments
Cash Flow from Operating Activities