Question

Gutierrez Company reported net income of $225,000 for 2014. Gutierrez also reported depreciation expense of $45,000 and a loss of $5,000 on the disposal of equipment. The comparative balance sheet shows a decrease in accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000 decrease in prepaid expenses.

Instructions
Prepare the operating activities section of the statement of cash flows for 2014. Use the indirect method.



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  • CreatedJanuary 30, 2014
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