Question: For the most recent year, Virtual Gaming Systems had net income of $450,000. The accounting records show depreciation expense of $30,000, increase of accounts receivable

For the most recent year, Virtual Gaming Systems had net income of $450,000. The accounting records show depreciation expense of $30,000, increase of accounts receivable $12,000, and decrease of accounts payable $10,000 Using the Indirect method, compute net cash flows from operating activities. (List cash outflows and any decrease in cash as negative amounts.) Virtual Gaming Systems Statement of Cash Flows (Partial) Cash flows from operating activities Adjustments to reconcile not income to net cash flows from operating activities $ 0 Net cash flows from operating activities For the most recent year, Virtual Gaming Systems had net income of $450,000. The accounting records show depreciation of $30,000. Increase of accounts receivable $12,000, and decrease of accounts payable $10,000 Using the indirect method, compute net cash flows from operating activities (List cash outflows and any decrease in cash negative amounts.) Virtual Gaming Systems Statement of Cash Flows (Partial) Cash flows from operating activitios Decrease in accounts payable Depreciation expense Increase in accounts payable Increase in accounts receivable Increase in income tax payable $ 0 Net income
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