Duggan Sports Bar reported net income of $195,000 for 2008. Duggan also reported depreciation expense of $25,000

Question:

Duggan Sports Bar reported net income of $195,000 for 2008. Duggan also reported depreciation expense of $25,000 and a loss of $5,000 on the sale of equipment. The comparative balance sheets show an increase in of $15,000 for the year, an $8,000 increase in accounts payable, and a decrease in prepaid expenses of $7,000.
Prepare the operating activities section of the statement of cash flows for 2008 using the indirect method.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...