Use the following information to prepare a statement of cash flows (indirect method) for Sink Industries for the year ended December 31, 2010:
Net income for the year 2010 was $5,000. Accounts receivable decreased $2,000, while inventories increased $4,000, and accounts payable decreased $7,000. Depreciation expense included in net income was $8,000.

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The Answer of Use the following information to prepare a statement of cash flows (indirect method) for Sink Industries for the year ended December 31, 2010:
Net income for the year 2010 was $5,000. Accounts receivable decreased $2,000, while inventories increased $4,000, and accounts payable decreased $7,000. Depreciation expense included in net income was $8,000.

Use the Following Information to Prepare a Statement of Cash