Hardware Suppliers reports net income of $160,000 Included in net income is a gain on...
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Hardware Suppliers reports net income of $160,000 Included in net income is a gain on the sale of land of $17,500 A comparison of this year's and last year's halance sheets reveals an increase in accounts receivable of $30,000, an increese in inventory of S 17,500, nd decrease in accounts payable of S50,000 Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (List cash outflows and any decrease In cash as negative amounts.) HARDWARE SUPPLIERS Statement of Cash Flows (partial) Cash fows from operating activities Adjustments to reconcile net income to net cash Nows from operaling aclivilies Net cash flows from operating activities
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