Question: Partial balance sheets and additional information are listed below for Sowell Company. Sowell Company Partial Balance Sheets as of December 31 2021 2020 Assets Cash

Partial balance sheets and additional information are listed below for Sowell Company.

Sowell Company
Partial Balance Sheets
as of December 31
	2021		2020
Assets
Cash	$	47,000	$	26,300
Accounts receivable		76,300		92,000
Inventory		47,000		41,300
Liabilities
Accounts payable	$	60,300	$	69,000

Additional information for 2021: Net income was $95,000. Depreciation expense was $22,500. Required: Prepare the operating activities section of the statement of cash flows for 2021 using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

CASH FLOWS FROM OPERATING ACTIVITES
(NET INCOME OR NET LOSS?)
ADJUSTMENT FOR NONCASH EFFECTS

Changes In Operating Assets & Liabilities




net cash flows from operating activities

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