Sarah Jane's Clothing Corporation Statement of Cash Flows (Partial) For Year Ended December 31, 2020 Operating Activities: Adjustment for noncash income items: Adjustments for cash flow effects from...

Extracted text: Sarah Jane's Clothing Corporation Statement of Cash Flows (Partial) For Year Ended December 31, 2020 Operating Activities: Adjustment for noncash income items: Adjustments for cash flow effects from working capital items: %24


Extracted text: Accounting information from the records of the Sarah Jane's Clothing Corporation at the end of 2020 is shown below: Net income $100,000 Proceeds from sale of long-term investment in marketable securities 20,000 Proceeds from sale of building 80,000 Gain on sale of building 35,000 Increase in accounts receivable 5,000 Increase in accounts payable 7,000 Cash dividends dedared 5,000 Depreciation expense 18,000 Patent amortization expense 1,000 Amortization of premium on bonds payable 1,500 Purchase of equipment 30,000 Issue of common stock 25,000 Increase in accrued liabilities 4,000 Decrease in prepaid expenses 2,000 Required: Prepare Sarah Jane's Clothing 's 2020 Net Cash Flow from Operating Activities section of a statement of cash flows, using the indirect method. For those boxes in which you must enter subtractive or negative numbers use a minus sign.