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Question - From the information given below, calculate the net cash flows from operating activities using the indirect method.
Net income $170,000
Depreciation 5,750
Loss on disposal of plant asset 4,000
Increase in inventory 7,500
Increase in prepaid expenses 5,460
Decrease in accounts payable 6,750
A. $152,040
B. $160,040
C. $173,540
D. $176,460
Prepare the journal entry for Flounder for the sale of the first 92 stations. The cost of each station is $57
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