Shim Company presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from Shim’s 2017 and 2016 year-end balance sheets:
Account Title 2017 2016
Accounts receivable……………… $36,000……. $37,200
Prepaid rent………………………… 2,400……… 1,800
Interest receivable……………………. 600………… 400
Accounts payable………………….. 9,300……… 10,400
Salaries payable……………………. 4,500………. 5,200
Unearned revenue………………….. 3,600………. 5,400
The income statement reported a $1,500 gain on the sale of equipment, an $800 loss on the sale of land, and $3,600 of depreciation expense. Net income for the period was $47,300.
Required
Prepare the operating activities section of the statement of cash flows.
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