Demers Inc. reported the following dа ta:
Net income $490,000
Depreciation expense 52,000
Gain on disposal of equipment 26,500
Decrease in accounts receivable 32,400
Decrease in accounts payable 12,350
Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required.
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