(Answered) Exercise - calculate operating activities-indirect

Accounting

Exercise - Calculate operating activities-indirect method

Hardware Suppliers reports net income of $152,000. Included in net income is a gain on the sale of land of $13,500. A comparison of this year's and last year's balance sheets reveals an increase in accounts receivable of $22,000, an increase in inventory of $13,500, and a decrease in accounts payable of $42,000.

Required: Prepare the operating activities section of the statement of cash flows using the indirect method.

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