Bracewell Company reported a net income of $190,860 for 2014. Bracewell also reported a depreciation expense of $49,030 and a gai

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Bracewell Company reported a net income of $190,860 for 2014. Bracewell also reported a depreciation expense of $49,030 and a gain of $4,840 on the disposal of plant assets. The comparative balance sheet shows an increase in accounts receivable of $13,740 for the year, a $17,100 increase in accounts payable, and a $4,910 decrease in prepaid expenses.

 

Prepare the operating activities section of the statement of cash flows for 2014. Use the indirect method.

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