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Vaughn Corporation had the following 2017 income statement. Sales revenue ...

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Accounting

Vaughn Corporation had the following 2017 income statement.

Sales revenue

$213,000
Cost of goods sold

109,000
Gross profit

104,000
Operating expenses (includes depreciation of $19,000)

53,000
Net income

$51,000

The following accounts increased during 2017: Accounts Receivable $12,000, Inventory $12,000, Accounts Payable $13,000. Prepare the cash flows from operating activities section of Vaughns 2017 statement of cash flows using the direct method.

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Vaughn Corporation Statement of Cash Flows-Direct Method (Partial)

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