Question: with complete solutions, journal entry (if ever) and answer. Sun Company provided the following data for the preparation of the statement of cash flows for
Sun Company provided the following data for the preparation of the statement of cash flows for the current year: Increase in accounts receivable Decrease in income tax payable Depreciation Net income Gain on sale of equipment Loss on sale of building 300,000 170,000 1,000,000 250,000 440,000 210,000 Using the indirect method, what should be reported as net cash flow from operating activities? 780,000 2 880,000 3 700,000 550,000
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