Question: QS 12-4 (Algo) Indirect: Computing cash flows from operations LO P2 Cain Incorporated reports net income of $17,000. Its comparative balance sheet shows the
QS 12-4 (Algo) Indirect: Computing cash flows from operations LO P2 Cain Incorporated reports net income of $17,000. Its comparative balance sheet shows the following changes: accounts receivable increased $8,000; inventory decreased $10,000; prepaid insurance decreased $3,000; accounts payable increased $5,000; and taxes payable decreased $4,000. Compute cash flows from operations using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign. Net income Answer is not complete. Cash Flows from Operating Activities (Indirect) Adjustments to reconcile net income to net cash provided by operating activities Changes in current assets and liabilities S 0
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