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Becker Inc. reported net income of $560,000 on its income statement for 2020. Depreciation expense for the year was $63,000. Over the course of the
Becker Inc. reported net income of $560,000 on its income statement for 2020. Depreciation expense for the year was $63,000.
Over the course of the year, Becker also experienced the following changes in account balances:
Accounts payable: $12,000 increase
Inventory: $18,000 increase
Accounts receivable: $9,000 decrease
Accrued liabilities: $19,000 decrease
Prepaid insurance: $7,000 decrease
Determine net cash provided by operating activities for 2020.
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