COMPUTING NET CASH FLOW FROM OPERATING ACTIVITIES
Brandon Inc. reported the following items in its balance sheet and income statement: net income, $85,600; gain on sale of equipment, $12,800; increase in accounts receiva- ble, $15,400; decrease in accounts payable, $25,900, and increase in common stock, $40,000.
Required:
Compute the net cash flows from operating activities using the indirect method.