Problem: Flint Corporation had the following 2017 income statement.
Sales revenue $183,000
Cost of goods sold 117,000
Gross profit 66,000
Operating expenses (includes depreciation of $21,000) 49,000
Net income$17,000
The following accounts increased during 2017: Accounts Receivable $12,000, Inventory $12,000, Accounts Payable $12,000. Prepare the cash flows from operating activities section of Flint's 2017 statement of cash flows using the indirect method.
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