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Cemptex Corporation prepares its statement of cash flows using the indirect method to report
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Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net income for the 2018 fiscal year was $669,000. Depreciation and amortization expense of $96,000 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$31,000

 Increase in inventories 10,100

Increase prepaid expenses 9,400

 Increase in salaries payable 10,900

 Decrease in income taxes payable 20,000 

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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Cemptex Corporation prepares its statement of cash flows using the indirect method to report
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  • Submitted On 16 Oct, 2017 04:59:22
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