Portions of the financial statements for Software Associates are provided below. Required: Prepare the operating activities section
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Portions of the financial statements for Software Associates are provided below.
Required:
Prepare the operating activities section of the statement of cash flows for Software Associates using the indirect method.
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Net sales Expenses: SOFTWARE ASSOCIATES Income Statement For the year ended December 31, 2024 Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income $420,000 130,000 33,000 49,000 $710,000 632,000 $78,000
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