Question: Brief Exercise 11-5 (Algo) Calculate operating activities-indirect method (LO11-3) Macrosoft Company reports net income of $64,000. The accounting records reveal depreciation expense of $79,000 as
Brief Exercise 11-5 (Algo) Calculate operating activities-indirect method (LO11-3) Macrosoft Company reports net income of $64,000. The accounting records reveal depreciation expense of $79,000 as well as increases in prepaid rent, accounts payable, and income tax payable of $59,000,$11,000, and $17,500, respectively. Prepare the operating activities section of Macrosofts statement of cash nows using the indirect method (Amounts to be deducted should be indicoted with a minus sign.)
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