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Waterway Corporation had the following 2020 income statement. Sales revenue $183,000 117,000 Cost of goods sold Gross profit 66,000 49.000 Operating expenses (includes depreciation of
Waterway Corporation had the following 2020 income statement. Sales revenue $183,000 117,000 Cost of goods sold Gross profit 66,000 49.000 Operating expenses (includes depreciation of $21.000) Net income $17,000 The following accounts increased during 2020: Accounts Receivable $12,000, Inventory $12,000, Accounts Payable $12,000. Prepare the cash flows from operating activities section of Waterway's 2020 statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000).) Waterway Corporation Statement of Cash Flows-Indirect Method (Partial) For the Year Ended December 31, 2020 TILTUUara For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Cash at Beginning of Period Cash Pavment to Suppliers Cash Payment for Operating Expenses NO $ Net Cash Provided by Operating Activities
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