Unformatted text preview: activities using the indirect method would be: Klutz Dance Studio had net income of $177,000 for the year just ended. Klutz collected the following additional information to prepare its statement of cash flows for the year: Decrease in accounts receivable $26,500 Increase in accounts payable $13,500 Increase in retained earnings Cash paid for purchase of new music equipment Depreciation expense $97,000 22,500 $ 5,500 Klutz uses the indirect method to prepare its statement of cash flows. What is Klutz's net cash provided by (used in) operating activities?...
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- Spring '17