Cash Flows from Operating Activities$$Indirect Method

Staley Inc. reported the following data:

Net income $$256,900$

Depreciation expense $69,300$

Loss on disposal of equipment $27,700$

Increase in accounts receivable $11,900$

Increase in accounts payable $11,700$

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 income

$Net income

$256,900$

Adjustments to reconcile net income to net cash flow from operating activities:

Depreciation

Depreciation

$69,300$

Loss on disposal of equipment

Loss on disposal of equipment

$27,700$

Changes in current operating assets and liabilities:

Increase in accounts receivable

Increase in accounts receivable

$-11,900$

Increase in accounts payable

Increase in accounts payable

$11,700$

Net cash flow from operating activities $fill in the blank $11$