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Verizon Communications Inc. provided the following financial data for the year 2023: Item Amount Net Income $4,000,000 Depreciation Expense $700,000 Increase in Accounts Receivable $400,000

Verizon Communications Inc. provided the following financial data for the year 2023:

Item

Amount

Net Income

$4,000,000

Depreciation Expense

$700,000

Increase in Accounts Receivable

$400,000

Decrease in Inventory

$350,000

Increase in Accounts Payable

$300,000

Dividends Paid

$600,000

Prepare the cash flow statement using the indirect method for Verizon Communications Inc. for the year ending December 31, 2023.

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