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Question 3 - C
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Macrosoft Company reports net income of \( \$ 59,000 \). The accounting records reveal depreciation expense of \( \$ 74,000 \) as well a: increases in prepaid rent, accounts payable, and income tax payable of \( \$ 54,000, \$ 10,000 \), and \( \$ 15,000 \), respectively.
Prepare the operating activities section of Macrosoft's statement of cash flows using the indirect method. (Amounts to be deduc should be indicated with a minus sign.)
\begin{tabular}{|l|l|}
\hline \multicolumn{1}{|c|}{ MACROSOFT COMPANY } \\
\hline \multicolumn{1}{|c|}{ Statement of Cash Flows (partial) } & \\
\hline Cash flows from operating activities & \\
\hline & \\
\hline Adjustments to reconcile net income to net cash flows from operating activities: & \\
\hline & \\
\hline & \\
\hline & \\
\hline & \\
\hline & \\
\hline
\end{tabular}
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