$$42,000,$ and at year$-$end, current liabilities totalled $$37,000.$ Net income for the year was $$82,000.$ Included in net income were a $$5,000$ gain on the sale of land and depreciation expense of $$12,000.$

Show how VT should report cash flows from operating activities for $2020.$ VT uses the indirect method.

$($Use parentheses or a minus sign for numbers to be subtracted or a net decrease in cash.$)$

Cash flows from operating activities:

Net income

Adjustments to reconcile net income to net cash

provided by operating activities:

Depreciation

Gain on sale of land

Increase in accounts receivable, inventory, and prepaid expenses

Decrease in current liabilities

Net cash provided by operating activities