Staley Inc reported the following data Net income $205,900 Depreciation expense 56,000 Loss on disposal of equipment 20,500 Increase in accounts receivable 22,300 Increase in accounts payable 12,400 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments

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Question: Staley Inc. reported the following data: Net income $205,900 Depreciation expense 56,000 Loss on disposal of equipment 20,500 Increase in accounts receivable 22,300 Increase in

Staley Inc. reported the following data:

Net income	$205,900
Depreciation expense	56,000
Loss on disposal of equipment	20,500
Increase in accounts receivable	22,300
Increase in accounts payable	12,400

Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

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