A Content x M Question 3 - Unit 4 - Chapter 4 H X QuickBooks Online Login: Sign in X ChatGPT x + https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252F... A G Unit 4 - Chapter 4 Homework Assignment i Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 3 Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net income for the 2024 fiscal year was $709,000. Depreciation and amortization expense of $84,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash: 10 points Decrease in accounts receivable $ 39,000 Increase in inventory 10,900 Increase in prepaid expenses 10,200 Increase in salaries payable 11, 700 Decrease in income taxes payable 15, 000 Required: Prepare the operating activities section of the 2024 statement of cash flows. Note: Amounts to be deducted should be indicated with a minus sign. X Answer is complete but not entirely correct. Cash flows from operating activities Net income $ 709,000 Adjustments for noncash effects: Depreciation and amortization expense 84,000 Changes in operating assets and liabilities: Gray Hill USD/JPY +0.90% 4:26 PM Type here to search 09 Ei Mom(9/21/2024 16 F1 F2 X FA F5 F6 F9 F11 : F12 Prison Delete @ Backspace W A 5 6 O Q W E R Y U O P A S D F G H K Z X B N M Alt Alt CtrlA Content x M Question 3 - Unit 4 - Chapter 4 H( X QuickBooks Online Login: Sign in X ChatGPT x + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252F... G ... Unit 4 - Chapter 4 Homework Assignment i Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 3 Required: Prepare the operating activities section of the 2024 statement of cash flows. Note: Amounts to be deducted should be indicated with a minus sign 10 X Answer is complete but not entirely correct. points Cash flows from operating activities: Net income $ 709,000 Adjustments for noncash effects: Depreciation and amortization expense 84,000 Changes in operating assets and liabilities; Decrease in accounts receivable 39,000 Increase in inventory (25,000) x Depreciation and amortization expense 19,000 X Increase in salaries payable 14,000 X Decrease in income taxes payable (15,000) Net cash flows from operating activities $ 825,000 4:27 PM Type here to search USD/JPY +0.90% ~ () 9/21/2024 F6 10 F11 50 F12 Prising Delete 26 F1 F2 X FA C FS + @ # o Backspace 6 8 9 O = A E R T Y P W M S D F G H K A En Z X B N M PgUp Alt Ctr Alt Home