Use the following information to prepare the operating activities section of a statement of cash flows for Max's Catering Company for 2020 using the indirect method. Net Income $286,000 Increase in food and beverage inventory $22,900 Increase in accounts payable $15,000 Depreciation expense $47,000 Decrease in accounts receivable $19,000 Loss on sale of land $20,400

Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash.

Max's Catering Company Cash Flow Statement For the Year Ended December 31, 2020 Cash Flow from Operating Activities Net Income Answer Adjustments for Non-Cash Items Depreciation expense Answer Loss on sale of land Answer Change in Current Assets and Current Liabilities Decrease in accounts receivable Answer Increase in food and beverage inventory Answer Increase in accounts payable Answer Net Cash Provided (Used) by Operating Activities Answer