Question 1 Using the following data, prepare the operating activities section of a statement of...
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Accounting
Question 1
Using the following data, prepare the operating activities section of a statement of cash flows for Maximum Corporation for the year ended December 31, 20X6, using the indirect method.
Increase in salary payable $1,50
Decrease in accounts payable 2,0000
Increase in accounts receivable 3,500
Net income 98,00
Decrease in inventory 5,800
Increase in prepaid expenses 1,200
Depreciation expense equipment 5,000
Depreciation expense building 7,500
Gain on sale of equipment 1,300
Loss on sale of patent 2,500
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