Question: Cash Flow Statement : Operations Section Next Company uses the Indirect Method to prepare the Statement of Cash Flows. A review of the Financial Statements

Cash Flow Statement : Operations Section Next Company uses the Indirect Method to prepare the Statement of Cash Flows. A review of the Financial Statements at 12/31/20 indicate the following items:

Depreciation Expense $18,000

Net Income Year Ended 12/31/20 73,500

Increase in Inventory 28,000

Decrease in Accounts Receivable 17,000

Increase in Account Payable 15,000

Decrease in Notes Payable 12,000

REQUIRED: Using Proper Form, Prepare the Operations Section of the Cash Flow Statement at 12/31/20.

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