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Cash Flows from Operating Activities—Indirect Method Staley Inc. reported the following data: Net income $273,200 Depreciation...

Cash Flows from Operating Activities—Indirect Method
Staley Inc. reported the following data:
Net income
$273,200
Depreciation expense
51,900
Loss on disposal of equipment
31,500
Increase in accounts receivable
11,200
Increase in accounts payable
11,400

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 out flows, cash payments, decreases in cash, or any negative adjustments.

Staley Inc.
Statement of Cash Flows (partial)
Cash flows from operating activities:

Net income


$

Adjustments to reconcile net income to net cash flow from operating activities:

Depreciation

Loss on disposal of equipment


Changes in current operating assets and liabilities:

Increase in accounts receivable

Increase in accounts payable


Net cash flow from operating activities

$

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Answer Stanley Inc Statement of Cash Flows (Partial) Cash Flow from Operating activities 273,200 Net Income Adjustment to rec

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