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Selected balance sheet information and the income statement for Pioneer Industries for the current year...

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Question

Accounting

Selected balance sheet information and the income statement for Pioneer Industries for the current year are presented below.

Selected Balance Sheet Accounts

Prior Year

Current Year
Accounts Receivable $ 15,700 $ 10,500
Inventories 21,000 23,100
Prepaid Rent 1,100 0
Accounts Payable 11,600 14,800
Salaries and Wages Payable 2,200 3,300

Income Statement
Sales Revenue $ 315,000
Expenses:
Cost of Goods Sold 188,000
Depreciation Expense 21,000
Salaries Expense 31,500
Rent Expense 12,600
Insurance Expense 12,600
Interest Expense 11,550
Utilities Expense 10,500
Net Income $ 27,250

Required:

Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. (Enter any deductions and cash outflows as a negative value.)

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