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-/8 Question 18 of 50 View Policies Current Attempt in Progress Pancho Company reported net...

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-/8 Question 18 of 50 View Policies Current Attempt in Progress Pancho Company reported net income of $240,000 for 2020. Pancho sold equipment that cost $108,000 and had a book value of $64,800 for $54,800. The comparative balance sheet shows a decrease in accounts receivable of $21,000 for the year, a $14,000 increase in accounts payable, a $3,000 increase in prepaid expenses, and a $19,000 increase in accumulated depreciation. Prepare the operating activities section of the statement of cash flows for 2020. Use the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. - 15,000 or in parenthesis e.g. (15,000).) PANCHO COMPANY Partial Statement of Cash Flows Adjustments to reconcile net income to $

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