Indirect Method - Preparing the Operating Activities Section The following data are from the accounting...
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Indirect Method - Preparing the Operating Activities Section The following data are from the accounting records of Clooney Company. Description Amount Net income (accrual basis) $32,000 Depreciation expense 6,240 Decrease in salaries payable 960 Decrease in trade accounts receivable 1,440 Increase in merchandise inventory Amortization of patent Increase in long-term liabilities 8,000 Sale of capital stock for cash 20,000 Accounts payable increase 3,200 Prepare the operating activities section of the statement of cash flows for Clooney Company using the indirect method. Cash Flows from Operating Activities 2,000 80 $ 0 0 0 Adjustments: Depreciation expense Amortization of patent Decrease in trade accounts receivable Increase in merchandise inventory Decrease in salaries payable 0 0 . o Olo $ Please answer all parts of the
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