Cash Flows from Operating Activities-Indirect MethodStaley Inc. reported the following data:Net income$232,800Depreciation expense65,900Loss on disposal of equipment27,700Increase in accounts receivable14,000Increase in accounts payable10,800Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirectmethod. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negativeadjustments.Staley Inc.Statement of Cash Flows (partial)Cash flows from operating activitiesAdjustments to reconcile net income to net cash flow from operating activities:Changes in current operating assets and liabilities:Net cash flow from operating activities46

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Asked Sep 29, 2019
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Cash Flows from Operating Activities-Indirect Method
Staley Inc. reported the following data:
Net income
$232,800
Depreciation expense
65,900
Loss on disposal of equipment
27,700
Increase in accounts receivable
14,000
Increase in accounts payable
10,800
Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect
method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative
adjustments.
Staley Inc.
Statement of Cash Flows (partial)
Cash flows from operating activities
Adjustments to reconcile net income to net cash flow from operating activities:
Changes in current operating assets and liabilities:
Net cash flow from operating activities
46
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Cash Flows from Operating Activities-Indirect Method Staley Inc. reported the following data: Net income $232,800 Depreciation expense 65,900 Loss on disposal of equipment 27,700 Increase in accounts receivable 14,000 Increase in accounts payable 10,800 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities 46

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