Consider the following information from Practel Corporation’s consolidated financial statements for 2020: Net income $25,000,000 Net income attributable to Practel 24,600,000 Depreciation expense 8,000,000 Amortization expense 2,000,000 Loss on sale of plant assets 500,000 Equity method investment income 200,000 Cash dividends received from equity method investment 80,000 Increase in receivables 600,000 Decrease in inventory 900,000 Decrease in current operating liabilities 100,000
Use the above data to prepare the operating cash flow section of Practel’s consolidated statement of cash flows for 2020, using the indirect method. Enter answers using all zeros (do not abbreviate answers to thousands or millions). Use a negative sign with answers to indicate a decrease/reduction in cash. Post Ranch Resort and Subsidiary
Consolidated Statement of Cash Flows
For the year 2020 Cash from operating activities AnswerCash dividends received from equity method investmentConsolidated net incomeEquity method investment incomeNet incomeNet income attributable to PractelUndistributed equity method income Answer Add (subtract) items not affecting cash: Depreciation expense Answer Amortization expense Answer Loss on sale of plant assets Answer AnswerCash dividends received from equity method investmentConsolidated net incomeEquity method investment incomeNet incomeNet income attributable to PractelUndistributed equity method income Answer Answer Changes in current assets and liabilities:
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Operating liabilities Answer Answer Net cash from operating activities Answer