Kennedy, Inc. reported the following data:
Net income
$165,420
Depreciation expense
13,285
Loss on disposal of equipment
10,866
Gain on sale of building
18,510
Increase in accounts receivable
7,554
Decrease in accounts payable
3,161
Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments.
Cash flows from operating activities:
Kennedy, Inc.
Statement of Cash Flow
Adjustments to reconcile net income to net cash flow from operating activibes:
Changes in current operating assets and labities:
Nit cash flow from operating activities