This quesjion: $3$ point$($s$)$ possible

liabilities totalled $$41,000.$ Net income for the year was $$83,000.$ Included in net income were a $$1,000$ gain on the sale of land and depreciation expense of $$12,000$

Show how OT should report cash flows from operating activities for $2020.$ OT uses the indirect method.

$($Use parentheses or a minus sign for numbers to be subtracted or a net decrease in cash.$)$

Cash flows from operating activities:

Net income

Adjustments to reconcile net income to net cash

provided by operating activities:

Depreciation

Gain on sale of land

Increase in accounts receivable, inventory, and prepaid expenses

Decrease in current liabilities

Net cash provided by operating activities