Cash Flows from Operating ActivitiesIndirect Method Staley Inc. reported the following data: Net income $462,500...
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Accounting
Cash Flows from Operating ActivitiesIndirect Method
Staley Inc. reported the following data:
Net income $462,500
Depreciation expense 56,900
Loss on disposal of equipment 32,200
Increase in accounts receivable 29,000
Increase in accounts payable 13,000
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.
Staley Inc. Statement of Cash Flows (partial)
Cash flows from operating activities:
Net Income
462,500
Adjustments to reconcile net income to net cash flow from operating activities:
Depreciation
Loss on disposal of equipment
32,200
Changes in current operating assets and liabilities:
Increase in accounts receivable
-29,000
Increase in accounts payable
13,000
Net cash flow from operating activities
$
I am looking for help to find the depreciation and the net cash flow from operating activities.
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