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Vaughn Company reported net income of $240,100 for 2022 . Vaughn sold equipment that cost $98,000 and had a book value of $58,800 for $50,960.
Vaughn Company reported net income of $240,100 for 2022 . Vaughn sold equipment that cost $98,000 and had a book value of $58,800 for $50,960. The comparative balance sheet shows a decrease in accounts receivable of $18,620 for the year, a $12,740 increase in accounts payable, a $3,920 increase in prepaid expenses, and a $16,660 increase in accumulated depreciation. Prepare the operating activities section of the statement of cash flows for 2022 . Use the indirect method. I Show amounts that decreose cash flow with either a - sign es. 15,000 or in parenthesis e.s. (15,000j) For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Incorme: \( 5 \longdiv { 2 4 0 , 1 0 0 } \) Adjustments to reconcile net income to Net Gish Provided by Operating Activities Depreciation Expense Loss on Disposal of Plant Assets Increase in Accounts Receivable Increase in Accolants Payable Increase in Prepaid Expenses
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