Micro Manufacturing reports net income of $850,000. Depreciation Expense is $60,000, Accounts Receivable increases $30,000 and Accounts Payable decreases $10,000. Calculate net cash flows from operating activities using the indirect method.
What will be an ideal response?
Cash Flows from Operating Activities
| Net income | $850,000 | ? |
| Adjustments to reconcile net income to net cash flows from operating activities: | ? | ? |
| Depreciation expense | 60,000 | ? |
| Increase in accounts receivable | (30,000) | ? |
| Decrease in accounts payable | (10,000) | ? |
| Net cash flows from operating activities | ? | $870,000 |
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