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Determining Cash Flows from (Used for Operating Activities
Yeoman Inc.reported the following data:
Net income
$358,400 64,400 32,400
Depreciation expense
Loss on disposal of equipment Increase in accounts receivable Increase in accounts payable
24,500
11,200
Prepare the Cash Flows from (used for Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate ca outflows, cash payments,decreases in cash, or any negative adjustments. Yeoman Inc. Statement of Cash Flows (partial)
Cash flows from (used for operating activities: Net income
Adjustments to reconcile net income to net cash flows from (used for) operating activities: Depreciation expense
Loss on disposal of equipment V
Changes in current operating assets and liabilities: Increase in accounts receivable
Increase in accounts payable
Net cash flows from operating activities