Cash Flows from Operating Activities - Indirect Method Staley Inc. reported the following data: Net income $297,700 61,500 36,700 Depreciation expense Loss on disposal of equipment Increase in accounts receivable Increase in accounts payable 21,500 11,600 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: Net income 297,700 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation expense 61,500 Loss on disposal of equipment 36,700 V Changes in current operating assets and liabilities: Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) 297,700 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation expense Loss on disposal of equipment Changes in current operating assets and liabilities: Increase in accounts receivable 61,500 36,700 21,500 X Increase in accounts payable 11.600 429,000 X Net cash flow from operating activities