141. The income statement disclosed the following items for 2009: Depreciation expense $36,000 Gain on disposal of equipment 21,000 Net income 317,500 Balances of the current assets and current liabilities accounts changed between December 31, 2008 and December 31, 2009, as follows: Increase in accounts receivable $5,600 Decrease in inventory 3,200 Decrease in prepaid insurance 1,200 Decrease in account payable 3,800 Increase in income taxes payable 1,200 Increase in dividends payable 850 Required:Prepare the Cash Flows for Operating Activities section of the statement of cash flows, using the indirect method.

141. The income statement disclosed the following items for 2009: Depreciation expense $36,000 Gain on disposal of equipment 21,000 Net income 317,500 ...

141. The income statement disclosed the following items for 2009:

Depreciation expense	$36,000
Gain on disposal of equipment	21,000
Net income	317,500

Balances of the current assets and current liabilities accounts changed between December 31, 2008 and December 31, 2009, as follows:

Increase in accounts receivable	$5,600
Decrease in inventory	3,200
Decrease in prepaid insurance	1,200
Decrease in account payable	3,800
Increase in income taxes payable	1,200
Increase in dividends payable	850

Required:
Prepare the Cash Flows for Operating Activities section of the statement of cash flows, using the indirect method.

May 15, 2022