Question: 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

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 $300,000

Decrease in food and beverage inventory $28,300

Decrease in accounts payable $16,000

Depreciation expense $47,000

Increase in accounts receivable $20,000

Loss on sale of land $23,900

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