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E13-4 Bracewell Company

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E13-4 Bracewell Company reported net income of $195,000 for 2014. Bracewell also
reported depreciation expense of $40,000 and a gain of $5,000 on disposal of plant assets.
The comparative balance sheet shows an increase in accounts receivable of $15,000
for the year, a $17,000 increase in accounts payable, and a $4,000 decrease in prepaid

Prepare the operating activities section of the statement of cash flows for 2014. Use the
indirect method

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