Question: Amelia s Bookstore reported net income of 62 000 for the current
Amelia’s Bookstore reported net income of $62,000 for the current year. The following information is also available for the year: $5,000 depreciation expense, $5,500 increase in inventory, $2,000 decrease in accounts receivable, and $1,250 decrease in accounts payable. Using the indirect method, prepare the operating activities section of the statement of cash flows for Amelia’s Bookstore for the current year.
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