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Teal Mountain Company reported net income of $310,000 for the current year. Depreciation recorded on buildings and equipment amounted to $80,000 for the year Balances

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Teal Mountain Company reported net income of $310,000 for the current year. Depreciation recorded on buildings and equipment amounted to $80,000 for the year Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: Cash Accounts receivable Inventory Accounts payable End of Year $25,000 21.500 59,000 10,100 Beginning of Year $19.100 37,000 62,000 15,300 Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with elther a-signes. -15,000 or in parenthesis eg. (15,000) TEAL MOUNTAIN COMPANY Partial Statement of Cash Flows Net Income / (Loss) Adjustments to reconcile net income to Depreciation Expense Decrease in Accounts Receivable Decrease in inventory

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