Use the following information to perform the calculations below (using the indirect method).
Net income
$430,000
Beginning accounts payable
$122,000
Depreciation expense
98,000
Ending accounts payable
149,000
Beginning accounts receivable
424,200
Purchase of long-term assets
638,000
Ending accounts receivable
445,000
Issuance of long-term debt
279,000
Beginning inventory
514,000
Issuance of stock for cash
171,000
Ending inventory
576,000
Issuance of stock for long-term assets
105,000
Beginning prepaid insurance
41,200
Purchase of treasury stock
70,000
Ending prepaid insurance
48,200
Sale of long-term investment at cost
58,500
Your answer is incorrect.
Calculate the amount of cash flows from operating activities. (Show amount that decrease cash flow with either a - sign e.g. -15,000 or
in parenthesis e.g. (15,000).)
Cash flows from operating activities
$