Question: Partial balance sheet data and additional information for TJ Holmes Industries are given below: Assets 2008 2007 Accounts receivable Inventory 80,000 65,000 92,000 43,000 Liabilities

Partial balance sheet data and additional information for TJ Holmes Industries are given below: Assets 2008 2007 Accounts receivable Inventory 80,000 65,000 92,000 43,000 Liabilities Accounts payable $95,000 $75,000 Additional Information: A. Net Income for 2020 was $50,000 B. Depreciation Expense for 2020 was $25,000 Prepare the operating activities section of the statement of cash flows, using the indirect method, for the year ending December 31, 2020 (10 pts)

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