The following schedule of information relates to Minerva Systems, Inc. for the year ended November 30, 2017:

Question:

The following schedule of information relates to Minerva Systems, Inc. for the year ended November 30, 2017: Depreciation expense $ 87,960 Net income 502,800 Cash at start of year 44,040 Nonoperating cash receipts: From sale of plant assets (recorded a gain of $2,400) 39,000 From sale of marketable securities 93,600 Nonoperating cash payments: For repurchase of preferred stock 114,000 For purchase of bonds as investment 319,320 To stockholders as dividends 141,240 Change in working capital accounts: Accounts receivable increase 97,080 Inventory increase 6,480 Accounts payable decrease 44,400 Accrued liabilities increase 7,920 Required: Prepare, in good form, a 2017 statement of cash flows for Minerva Systems, Inc. using the indirect method.

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...