The accounting records of Kelly Corporation reveal the following:

Requirements

1. Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method.

2. Evaluate the operating cash flow of Kelly Corporation. Explain.

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Net income.... Collection of dividend revenue Payment of interest.. Sales revenue.. Loss on sale of land.. Acquisition of land with cash. Depreciation expense Decrease in current liabilities... Decrease in current assets other than cash Payment of dividends .. Payment of income tax ....... $ 11,000 $ 9,000 19,000 7,200 12,000 180,000 32,000 28,000 38,000 7,600 ........ 5,000 .