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In: Accounting

The following information was taken from the records of Adams, Inc..   2016   2017 ASSETS:   Cash    ...

The following information was taken from the records of Adams, Inc..

  2016   2017

ASSETS:

  Cash     $  25,000   $ 43,000

Accounts Receivable    120,500    115,000

Prepaid Rent    3,000    4,000

Accounts Payable 89,000 95,000

Utilities Payable 8,000 6,500

  Income Statement

For the Year ended December 31, 2017

REvenue $ 160,000

Expenses:

Operating Expenses $ 123,000

Utilities Expenses 12,000

Rent Expense 16,000   (151,000

Net Income $ 9,000

REQUIRED: Prepare the Operating Activities section of the cash flow statement under the indirect method.

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ekkarill92 answered 1 year ago
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