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Brief Exercise 17-04 Telfer, Inc. reported net income of $2.3 million in 2020. Depreciation for the year was $163,200, accoun

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Cash flows from operating activities
Net income 2,300,000
Adjustments to reconcile net income
Decrease in accounts receivable 357,900
Decrease in accounts payable -287,100
Depreciation expense 163,200
Net cash provided by operating activities 2,534,000
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