Assume May Co. is preparing the operating section using the indirect method. May Co. reported...
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Accounting
Assume May Co. is preparing the operating section using the indirect method. May Co. reported net income of $255,000 for the year and had the other following items: Decrease in accounts receivable: $13.000 Increase in common slock from cash issuance: $10,000 Increase in additional paid in capital from cash issuance: $60.000 Increase in inventory. $11,000 increase in plant assets from purchase of land for cash: $50,000 Increase in accounts payable: $20,000 Loss on sale of equipment: $7,000 Depreciation expense: $12,000 Calculate May co:'s net cash fow from operating aclivities. $296,000$278,000$282,000$318,000
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