Cash flows from $($used for$)$ operating activities$-$indirect method

Staley Inc. reported the following data:

Prepare the "Cash flows from $($used for$)$ 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.

Staley Inc.

Statement of Cash Flows $($partial$)$

Line Item Description

Cash flows from $($used for$)$ operating activities:

$$

Adjustments to reconcile net income to net cash flows from $($used for$)$ operating activities:

Loss on disposal of equipment

Changes in current operating assets and liabilities:

Increase in accounts receivable

Increase in accounts payable

Net cash flows from operating activities

$$