Ravenna Company is a merchandiser that uses the indirect method
to prepare the operating activities section of its statement of
cash flows. Its balance sheet for this year is as follows:
Ending Balance
Beginning Balance
Cash
$
126,600
$
152,250
Accounts receivable
100,000
107,800
Inventory
134,300
122,500
Total current assets
360,900
382,550
Property, plant, and equipment
354,000
343,000
Less accumulated depreciation
118,000
85,750
Net property, plant, and equipment
236,000
257,250
Total assets
$
596,900
$
639,800
Accounts payable
$
78,400...