For the year ended June 30, 20xx, net income for Freed Corporation was $14,800.

For the year ended June 30, 20xx, net income for Freed Corporation was $14,800. Depreciation expense was $4,000. During the year, Accounts Receivable increased by $8,800, Inventories increased by $14,000, Prepaid Rent decreased by $2,800, Accounts Payable increased by $28,000, Salaries Payable increased by $2,000, and Income Taxes Payable decreased by $1,200. Use the indirect method to prepare a schedule of cash flows from operating activities.

 

 

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