Partial balance sheets and additional information are listed below for Sowell Company Sowell Company Partial Balance Sheets as of December 31 Assets 2016 2015 Cash $ 45,000 $ 24,500 Accounts receivable 74,500 90,000 Inventory 45,000 39,500 Liabilities Accounts payable $ 58,500 $ 67,000 Additional information for 2016 Net income was $93,000 Depreciation expense was $21,500 Required Prepare the operating activities section of the statement of cash flows for 2016 using the indirect method (Amounts to be deducted should be indicated with a minus sign

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Question: Partial balance sheets and additional information are listed below for Sowell Company. Sowell Company Partial Balance Sheets as of December 31 Assets 2016 2015 Cash

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

Sowell Company
Partial Balance Sheets
as of December 31
Assets		2016		2015
Cash	$	45,000	$	24,500
Accounts receivable		74,500		90,000
Inventory		45,000		39,500
Liabilities
Accounts payable	$	58,500	$	67,000

Additional information for 2016:

Net income was $93,000.

Depreciation expense was $21,500.

Required:

Prepare the operating activities section of the statement of cash flows for 2016 using the indirect method.(Amounts to be deducted should be indicated with a minus sign.

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