Question - Your answer is partially correct. Try again. Sage Corporation had the following 2017 income statement.
Sales revenue $189,000
Cost of goods sold 113,000
Gross profit 76,000
Operating expenses (includes depreciation of $19,000) 47,000
Net income $29,000
The following accounts increased during 2017: Accounts Receivable $12,000, Inventory $12,000, Accounts Payable $11,000. Prepare the cash flows from operating activities section of Sage's 2017 statement of cash flows using the direct method.