Use the indirect method to prepare the cash provided or used from operating activities section only of the statement of cash flows for thiscompany.

AMMONS, INC. Income Statement For Year Ended December 31, 2009 $976,000 628,000 Cos t of goods sold Gross profit Operating expenses .. Depreclatlon expense $ 75,200 94,600 34,600 $60,000 Income before taxes . . . Income taxes expense AMMONS, INC. Comparative Balance Sheets December 31,2009 2009 2008 Assets Accounts recelvable, net . ..._ . . 02.000 71,600 91,600 8.400 82,000 102 ..8 Prepald expenses 0,800 Accum. deprecia tion Furniture . 34000) (18,000) Liabilities and Equity 0.000 5.200 138,000 Notes payable (long-term) . ._.. . . 58.000 71,200 Retalned earnings Total llabllitles and equlty 16,800 $638,000 $570,000