Aug 16, 2017

Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities

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Statement of cash flows; indirect method

Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net income for the 2016 fiscal year was $624,000. Depreciation and amortization expense of $87,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash:

Required:

Prepare the operating activities section of the 2016 statement of cash flows



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