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Business · Accounting
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ll. Cash Flow Statement-indirect method (25%) Shown below is information from the financial statements of Chapin Company for 2018 Beginning End of Year of Year 98,000 Accounts receivable nventory Prepaid expenses 106,000 $120,000 105,000 31,000 74,000 9,000 Accounts payable (for merchandise) Accrued liabilities Net sales 70,000 $28,000 30,000 8,000 t of goods sold Expenses (including depreciation of $43,000) 18,000 58,000 (a) On the basis of the above information, prepare a partial statement of cash lows, showing the computation of net cash flows from operating activities by the indirect method. (b) Explain why net income is different from the net cash provided by operations.
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