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Exercise 16-4 Indirect: Cash flows from operating activities LO P2 The following income statement and additional year-end InfPrepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted sh

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Answer #1

Cash flow from operating activities:

Net income $481540
Adjustment
Depreciation expense 44200
Amortization 4200
Gain on sale of equipment (6200)
Change in current operating assets and liabilities

Accounts receivable

(30500)
Inventory (25000)
Accounts payable (12500)
Salaries payable (3500)
Cash flow from operating activities $452240
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