Satchmo Company has just completed its first year of operations on December 31, 2002. Its initial income

Question:

Satchmo Company has just completed its first year of operations on December 31, 2002. Its initial income statement showed that Satchmo had revenues of $$137,000$ and operating expenses of $$88,000$. Accounts receivable at year-end were $$42,000$. Accounts payable at year-end were $$33,000$. Assume that accounts payable related to operating expenses. Ignore income taxes.

Instructions
Compute net cash provided by operating activities using the direct method.

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