The income statement for Rhino Company for the current year ended June 30 and balances of selected accounts at the beginning and the end of the year are as follows:

Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the directmethod.

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445 500 154,000 $291500 Operating expenses: 153,780 137,720 39,600 Income before income tax End of Year Beginning of Year 80,300 15,840 ...67,540 62,700 20,900 4,400 92,400 14,520 Accounts payable (merchandise creditors) 19,140 4,400