Cash Flows from Operating Activities- - Learning Objective 2 Staley Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Increase in accounts receivable Increase in accounts payable $204,40050,70038,50018,30011,200 Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: Net income $204,400 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Loss on disposal of equipment 50,700 38,500 Changes in current operating assets and liabilities: Increase in accounts receivable Increase in accounts payable 11,200 Net cash flow from operating activities