Cornett Systems provides the following information from the most recent year: Required Prepare the operating activities section
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Prepare the operating activities section of Cornett's statement of cash flows using the indirect method.
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Net income Increase in net current assets Increase in net current liabilities Gain on sale of investments Depreciation expense Loss on bond redemption Purchase of equipment awad Saleem $744,000 27,000 31,000 3,500 86,000 5,600 62,300
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Cash flows from operating activities Net income 744000 Adjustments to reco...View the full answer
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