Problem: Northington, Inc. is preparing the company's statement of cash flows for the fiscal year just ended. Using the following information, determine the amount of cash flows from operating activities using the indirect method:
| Net income |
$182,000 |
| Gain on the sale of equipment |
12,300 |
| Proceeds from the sale of equipment |
92,300 |
| Depreciation expense-equipment |
50,000 |
| Payment of bonds at maturity |
100,000 |
| Purchase of land |
200,000 |
| Issuance of common stock |
300,000 |
| Increase in merchandise inventory |
35,400 |
| Decrease in accounts receivable |
28,800 |
| Increase in accounts payable |
23,700 |
| Payment of cash dividends |
32,000 |
- $261,400.
- $186,800.
- $236,800.
- $332,200.
- $189,400.