Use the indirect method to prepare the cash provided or used from operating activities section only of the statement of cash flows for thiscompany.

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AMMONS, INC. Income Statement For Year Ended December 31, 2009 $976,000 628,000 Cos t of goods sold Gross profit Operating expenses .. Depreclatlon expense $ 75,200 94,600 34,600 $60,000 Income before taxes . . . Income taxes expense AMMONS, INC. Comparative Balance Sheets December 31,2009 2009 2008 Assets Accounts recelvable, net . ..._ . . 02.000 71,600 91,600 8.400 82,000 102 ..8 Prepald expenses 0,800 Accum. deprecia tion Furniture . 34000) (18,000) Liabilities and Equity 0.000 5.200 138,000 Notes payable (long-term) . ._.. . . 58.000 71,200 Retalned earnings Total llabllitles and equlty 16,800 $638,000 $570,000