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Question
Dickinson Company reported net income of $155,000 for the current year. Depreciation recorded on buildings and equipment amounted to $65,000 for the year. In addition, a building with an original cost of $250,000 and accumulated depreciation of $190,000 on the date of the sale was sold for $75,000. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:
| End of Year | Beginning of Year | |
| Cash | $20,000 | $15,000 |
| Accounts Receivable | 19,000 | 32,000 |
| Inventories | 50,000 | 65,000 |
| Accounts Payable | 12,000 | 18,000 |
Prepare the operating activities section of the statement of cash flows, using the indirect method.
Answer
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