IV. Using the following information, determine the amount of cash flows from operating activities using...
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Accounting
IV. Using the following information, determine the amount of cash flows from operating activities using the indirect method
| Net income | $282,000 |
| Gain on the sale of equipment | 22,300 |
| Proceeds from the sale of equipment | 82,300 |
| Depreciation expense equipment | 60,000 |
| Payment of bonds at maturity | 200,000 |
| Purchase of land | 300,000 |
| Issuance of common stock | 400,000 |
| Increase in merchandise inventory | 45,400 |
| Decrease in accounts receivable | 38,800 |
| Increase in accounts payable | 33,700 |
| Payment of cash dividends | 42,000 |
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