Show Me How Cash Flows from Operating Activities-Indirect Method Staley Inc. reported the following data Net income $450,900 Depreciation expense 51,400 Loss on disposal of equipment 35,200 Increase in accounts receivable 22,500 12.100 Increase in accounts payable Prepare the Cash Flows from Operating Activities section of the statement of can hows, vaing the indirect method. Use the moms sign to indicate cash flows, cash payments, decreases in cash, or any negative adjustments Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash flow from operating activities Depreciation Less on disposal of equipment Changes in current operating assets and sabilities Increase in accounts receivable Increase in accounts payable Net cash flow from operating activities 31200 12306 Check My W Consider the effect that each item has on cash. Would the transaction have affected cash at all? How would the increase or decrease in cuent