EX 15-16 Cash flows from (used for) operating activitiesindirect method

Selected data (in thousands) derived from the income statement and balance sheet of CardinasCorp. for a recent year are as follows:

Income statement data:

Net income $49,311

Gain on disposal of property 1,188

Depreciation expense 11,580

Other items involving noncash expenses 1,383

Balance sheet data:

Increase in accounts receivable 1,746

Decrease in inventory 990

Increase in prepaid expenses 605

Decrease in accounts payable 710

Decrease in accrued and other current liabilities 995

a. Prepare the Cash flows from (used for) operating activities section of the statement of cashflows, using the indirect method for Cardinas Corp.