Question - Electronic Wonders reports net income of...
Electronic Wonders reports net income of $95,000. The accounting records reveal Depreciation Expense of $50,000 as well as increases in Prepaid Rent, Accounts Payable, and Income Tax Payable of $40,000, $23,000, and $20,000, respectively.
Prepare the operating activities section of Electronic Wonders' statement of cash flows using the indirect method.