Azen Company reported net income of $214,050 for 2012. Azen also reported depreciation expense of $37,920 and a loss of $6,480 on the sale of equipment. The comparative balance sheet shows an increase in accounts receivable of $16,560 for the year, a $18,500 increase in accounts payable, and a $5,440 increase in prepaid expenses.
Prepare the operating activities section of the statement of cash flows for 2012. Use the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
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