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Onlin × 1 + irn/takeAssignmenit/takeAssignmentMain.do?inwoker assignments&take; ionlocator assignment-take&inprogress; faise eBook Show Me How Calculator Cash flows from operating ctivities-indirect method Statement of Cash Flows-Operating Activities Pettygrove Inc reported the following data Net income Depreciation Gain on disposal of equipment Decrease in accounts receivable Decrease in accounts payable 371,800 44 510 38.800 24 950 6490 Prepare the Cash Flows from Operating Activities section of the stafement of cash flows, using the indirect memod Refer to the Amount Descniptions list provided for the exact wording of the answer for text entries Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required PreviouS Next ck My Work

Solution

Cash Fow from operating activities: Net income 371800 Adjustments to reconcile net income to net cash from operating activities: Depreciation expense 44510 Gain on disposal of equipment -38800 Changes in current operating assets and liabilities: Decrease in accounts receivable 24950 Decrease in accounts payable -6490 Net cash Fow from operating activities 395970