Use the following income statement and information about changes in
Use the following income statement and information about changes in noncash current assets and current liabilities to prepare only the cash flows from operating activities section of the statement of cash flows using the indirect method.
Changes in current asset and current liability accounts for the year that relate to operations follow.
Accounts receivable . . . . . . . . . . . $45,300 increase
Accounts payable . . . . . . . . . . . . . $10,075 decrease
Merchandise inventory . . . . . . . . . 35,150 increase
Salaries payable . . . . . . . . . . . . . . 4,750 decrease
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