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Exercise 11-8A Calculate operating activities-indirect method (LO11-3) Hardware Suppliers reports net income of $155,000. Inc
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HARDWARE SUPPLIERS

Statement of Cash Flows (partial)

Cash flows from operating activities :
Net income $155,000
Adjustments to reconcile net income to net cash flows from operating activities :
Gain on sale of land ($15,000)
Increase in Accounts receivable ($25,000)
Increase in Inventory (15,000)
Decrease in Accounts payable ($45,000)
Net cash flows from operating activities $55,000
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