Cash flows from operating activities indirect method
Malibu Inc. reported the following data:
|
Net income |
$373,750 |
|
Depreciation expense |
67,500 |
|
Loss on disposal of equipment |
27,450 |
|
Increase in accounts receivable |
24,300 |
|
Increase in accounts payable |
12,600 |
Prepare the cash flows from operating Activities section of the statement of cash flows using the indirect method.