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Question
Using the indirect method, calculate the amount of cash flows from operating activities from the following data:
Net income $230,000
Beginning accounts receivable 22,000
Ending accounts receivable 29,000
Beginning prepaid expenses 5,000
Ending prepaid expenses 2,000
Beginning accounts payable 15,000
Ending accounts payable 14,000
Depreciation expense 50,000
Amortization of intangible asset 3,000
Dividends declared and paid 11,000
Answer
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