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2016 2017 Current Assests Cash $115,000 $99,000 Accounts Receivable 105,000 89,000 Inventory 154,000 172,000 Prepaid Expense 27,000 21,000 Total Current Assets $401,00 $381,000 Current Liabilities
2016 | 2017 | |
Current Assests | ||
Cash | $115,000 | $99,000 |
Accounts Receivable | 105,000 | 89,000 |
Inventory | 154,000 | 172,000 |
Prepaid Expense | 27,000 | 21,000 |
Total Current Assets | $401,00 | $381,000 |
Current Liabilities | ||
Accrued Expenses Payable | $15,000 | $5,000 |
Accounts Payable | 85,000 | 93,000 |
Total Current Liabilities | $100,000 | $98,000 |
The current sections of Donny Inc.'s balance sheets at December 31, 2016 and 2017, are presented here. Donny's net income for 2017 was $203,000. Depriciation expense was $25,000.
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. Use pararentheses for deductions.
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