Kennedy, Inc. reported the following data: Net income $173,387 Depreciation expense 12,062 Loss on disposal of equipment (8,995) Gain on sale of building 19,920 Increase in accounts receivable 10,890 Decrease in accounts payable (3,089) Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments.

                                Kennedy, Inc

             Cash flows from operating activities:  

Net income                                                 $173,387

Adjustments to reconcile net income

to net cash flow from  operating activities:  

Depreciation expense                                 $12,062

Loss on disposal of equipment                   $8,995

Gain on sale of building                              -$19,920

Changes in current operating

assets and liabilities:  

Increase in accounts receivable                 -$10,890

Decrease in accounts payable                    -$3,089

Net cash flow from operating activities $160,945

none

explanation:

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