Question

The following are line items included in the 2012 statement of cash flows prepared by Goodly’s Clothing Company.
Depreciation expense .............. $ 5,500
Increase in accounts receivable .......... 1,500
Increase in accounts payable ........... 13,200
Increase in accrued salaries payable ......... 4,300
Increase in inventories ............... 11,900
Gain on disposal of long-term assets ........ 150
Increase in income taxes payable .......... 2,200
Net income ................. 17,000

Required
Prepare the operating cash flow section of Goodly’s statement of cash flows using the indirect method.



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  • CreatedSeptember 23, 2013
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