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Homework answers / question archive / Gutierrez Company reported net income of 5190,000 for 2020

Gutierrez Company reported net income of 5190,000 for 2020

Accounting

Gutierrez Company reported net income of 5190,000 for 2020. Gutierrez also reported depreciation expense of $40,000 and a loss of $4,500 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $10,000 for the year, a $12,000 increase in accounts payable, and a $3,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020. Use the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) GUTIERREZ COMPANY Partial Statement of Cash Flows Adjustments to reconcile net income to | Click if you would like to show Work for this question: Open Show Work

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