Question: In this exercise, you will use the indirect method to create a statement of cash flows in Excel for JKG Corp. These amounts relate to

In this exercise, you will use the indirect method to create a statement of cash flows in Excel for JKG Corp. These amounts relate to March of 2016.

Net Income

$12,100

Notes Payable (beginning)

$3,000

Sale of Machinery

$8,000

Notes Payable (ending)

$0

Depreciation Expense

$1,300

Accounts Payable (beginning)

$900

Purchase of Equipment

$2,700

Accounts Payable (ending)

$1,700

Accounts Receivable (beginning)

$5,300

Philip Wilton, Drawing

$1,600

Accounts Receivable (ending)

$6,500

Cash (beginning balance)

$43,200

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