Cash Flows from Operating Activities—Indirect Method

Staley Inc. reported the following data:

Net income	$343,700
Depreciation expense	64,100
Loss on disposal of equipment	22,100
Increase in accounts receivable	18,700
Increase in accounts payable	11,900

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 out flows, cash payments, decreases in cash, or any negative adjustments.

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Staley Inc.
Statement of Cash Flows (partial)

Cash flows from operating activities:
Net incomeDepreciationIncrease in accounts receivableNet income	$Net income	343700
Adjustments to reconcile net income to net cash flow from operating activities:
DepreciationIncrease in accounts payableIncrease in accounts receivable	Depreciation	64100
Increase in accounts payableIncrease in accounts receivableLoss on disposal of equipment	Loss on disposal of equipment	22100
Changes in current operating assets and liabilities:
DepreciationIncrease in accounts receivableLoss on disposal of equipment	Increase in accounts receivable	-18700
DepreciationIncrease in accounts payableLoss on disposal of equipment	Increase in accounts payable	11900
Net cash flow from operating activities		$fill in the blank 11