Hardware Distributors reports net income of $56,000. Included in that number is depreciation expense of...
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Accounting
Hardware Distributors reports net income of $56,000. Included in that number is depreciation expense of $10,500 and a loss on the sale of land of $5,100. A comparison of this year's and last year's balance sheets reveals a decrease in accounts receivable of $26,000, a decrease in inventory of $15,500, and an increase in accounts payable of $46,000.
Required: Prepare the operating activities section of the statement of cash flows using the indirect method.
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