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Indirect calculation of operating cash flows
Video Corporation's balance sheet revealed the following account balance information:
Account
Dec. 31, 20X6
Dec. 31, 20X5
Accounts receivable
$52,000
$57,000
Merchandise inventory
75,000
68,000
Accounts payable
22,000
19,500
The accrual-basis net income was $109,000. In computing net income, the company recorded $13,600 of depreciation expense; there were no gains or losses from investing and financing activities.
On the basis of the preceding information, calculate Video's cash flows from operating activities by using the indirect method.
You may research the topic, however, it is important to state your assumptions and support them with reliable research. Please reference your sources appropriately.
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