Additional Information for 2024: 1. Net income is $72,000. 2. The company purchases $117,000 in...
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Additional Information for 2024: 1. Net income is $72,000. 2. The company purchases $117,000 in equipment. No equipment was sold. 3. Depreciation expense is $157,000. 4. The company repays $107,500 in notes payable. 5. The company declares and pays a cash dividend of $26,500. Required: Prepare the statement of cash flows using the indirect method. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign.) Adjustments to reconcile net income to net cash flows from operating activities
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