The current sections of Sunn Inc.'s balance sheets at December 31, 2016 and 2017 are presented here.
Question:
The current sections of Sunn Inc.'s balance sheets at December 31, 2016 and 2017 are presented here. Sunn's net income for 2017 was $153,000. Depreciation expense was $27,000.
Instructions
Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2017, using the indirect method.
Transcribed Image Text:
2017 2016 Current assets 105,000 99,000 89,000 172,000 22,000 80,000 168,000 27,000 Prepaid expenses Total current assets Current liabilities 380,000$382,000 Accrued expenses payable 15,0005,000 92,000 Accounts payable Total current liabilities 85,000 100,000 97,000
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Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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