Electronic Wonders reports net income of $97,000. The accounting records reveal Depreciation Expense of $50,700...
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Accounting
Electronic Wonders reports net income of $97,000. The accounting records reveal Depreciation Expense of $50,700 as well as increase in Prepaid Rent, Accounts Payable, and Income Tax Payable of $38,200, $24,300, and $26,600, respectively.
Prepare the operating activities section of Electronic Wonders statement of cash flows using the indirect method. (Amounts to be deducted and negative values should be indicated by minus sign.)
| Electronic Wonders | ||
| Statement of cash flows (partial) | ||
| Cash flows from the Operating Activities: | ||
| Adjustments for nocash effects: | ||
| Changes in current assets and current liabilities: | ||
| Net Cash flows from operating activities: | $ |
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