Question: Using the following data, prepare Stanley Inc.'s Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Net income

Using the following data, prepare Stanley Inc.'s Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method.

Net income $525,000

Depreciation expense 82,500

Gain on disposal of equipment 14,600

Increase in accounts receivable 10,150

Decrease in accounts payable (3,300)

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