Cash Flows from Operating ActivitiesIndirect Method
Staley Inc. reported the following data:
Net income $
Depreciation expense
Loss on disposal of equipment
Increase in accounts receivable
Increase in accounts payable
Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.
blank
Staley Inc.
Statement of Cash Flows partial
Cash flows from operating activities:
Net income
$Net income
Adjustments to reconcile net income to net cash flow from operating activities:
Depreciation
Depreciation
Loss on disposal of equipment
Loss on disposal of equipment
Changes in current operating assets and liabilities:
Increase in accounts receivable
Increase in accounts receivable
Increase in accounts payable
Increase in accounts payable
Net cash flow from operating activities $fill in the blank
