Shen Limited reported net income of $32,000 for its latest year ended March 31, 2020. 

Instructions 

For each of the five different situations involving the SFP accounts that follow, calculate the cash flow from operating activities using the indirect method: 

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Accounts Receivable Inventory March 31 Accounts Payable March 31 March 31 2020 2019 2020 2019 2020 2019 a. $20,000 $21,500 $16,500 $17,900 $ 9,000 $ 9,300 b. 23,000 20,000 17,300 20,500 14,600 10,200 с. 20,000 -0- 12,000 -0- 7,000 -0- d. 19,500 21,000 19,500 15,600 10,200 14,100 е. 21,500 24,000 12,900 14,000 13,300 11,300