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Question
Kennedy, Inc., reported the following data:
| Net income | $118,000 |
| Depreciation expense | 15,000 |
| Loss on disposal of equipment | (10,000) |
| Gain on sale of building | 20,000 |
| Increase in accounts receivable | 7,000 |
| Decrease in accounts payable | (2,000) |
Prepare the operating activities section of the statement of cash flows using the indirect method.
Answer
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