Cemptex Corporation prepares its statement of cash flows using
the indirect method to report operating activities. Net income for
the 2018 fiscal year was $659,000. Depreciation and amortization
expense of $94,000 was included with operating expenses in the
income statement. The following information describes the changes
in current assets and liabilities other than cash:
Decrease in accounts receivable | $ | 29,000 | |
Increase in inventories | 9,900 | ||
Increase prepaid expenses | 9,200 | ||
Increase in salaries payable | 10,700 | ||
Decrease in income taxes payable | 18,000 | ||
Required:
Prepare the operating activities section of the 2018 statement of
cash flows. (Amounts to be deducted should be indicated
with a minus sign.)
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