Cash Flows from Operating Activities-Indirect Method Staley Inc. reported the following dа ta: Net income $280,000 Depreciation expense 48,000 Loss on disposal of equipment 19,520 Increase in accounts receivable 17,280 Increase in accounts payable 8,960 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.
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