Cash flows from operating activities – indirect method
Salem Inc. reported the following data:
|
Net income |
$168,750 |
|
Depreciation expenses |
18,750 |
|
Gain on disposal of equipment |
15,375 |
|
Decrease in accounts receivable |
10,500 |
|
Decrease in accounts payable |
2,700 |
Prepare the Cash Flows from operating Activities section of the statement of cash flows using the indirect method.
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