Information needed to prepare the Cash Flow from Operating Activities section of Par Corporation’s consolidated statement of cash flows is included in the following list:Amortization of patents…………. $ 16,000Consolidated net income……….. 150,000Decrease in accounts payable………. 20,000Depreciation expense…………. 120,000Increase in accounts receivable……… 105,000Increase in inventories………… 45,000Loss on sale of land…………. 100,000Noncontrolling interest share………. 50,000Noncontrolling interest dividends……… 24,000Undistributed income of equity investees…… 5,000REQUIRED: Prepare the Cash Flows from Operating Activities section of Par’s consolidated statement of cash flows under the indirect method.View Solution:
Information needed to prepare the Cash Flow from Operating Activ