Question: 0.1 3 points eBook Brief Exercise 11-7 (Algo) Calculate operating activities-indirect method (LO11-3) Engineering Wonders reports net income of $65.0 million. Included in that
0.1 3 points eBook Brief Exercise 11-7 (Algo) Calculate operating activities-indirect method (LO11-3) Engineering Wonders reports net income of $65.0 million. Included in that number is building depreciation expense of $5.5 million and a gain on the sale of land of $1.5 million. Records reveal decreases in accounts receivable, accounts payable, and inventory of $2.5 million, $3.5 million, and $4.5 million, respectively. Prepare the operating activities section of Wonders' statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign. Round your answers to 1 decimal place. Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).) Print ENGINEERING WONDERS Statement of Cash Flows (partial) References Cash flows from operating activities Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities
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