Exercise 13-5 Mallory Michaels, senior accountant for Trendy Fashions, has gathered the following ba

 
   

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Exercise 13-5 Mallory Michaels, senior accountant for Trendy Fashions, has gathered the following balances from the company's general ledger: December 31, 2015 December 31, 2016 $50,687 $64,431 Accounts Receivable 141,030 119,706 Inventories 3,890 Prepaid Expenses 4,800 41,878 51,898 Accounts Payable 13,890 12,325 Accrued Liabilities 12,295 1,450 Income Taxes Payable 705,221 Net Income Depreciation Expense 82,198 Loss on the sale of land 15,130 Using the indirect method, prepare the cash flows provided by operating activities section of the statement of cash flows for 2016. (Show amounts that decrease cash flow with elther a – sign, e.g. -15,000 or in parentheses, e.g. (15,000).) Cash flows from operating activities Net cash by operating activities hie mueetion: Onen Chow Wnrd