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Bonita Company reported net income of $199,300 for 2022. Bonita also reported depreciation expense of $46,900 and a loss of $6,500 on the disposal of
Bonita Company reported net income of $199,300 for 2022. Bonita also reported depreciation expense of $46,900 and a loss of $6,500 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $17,600 for the year, a $19,600 increase in accounts payable, and a $4,900 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) BONITA COMPANY Partial Statement of Cash Flows Adjustments to reconcile net income to
Bonita Company reported net income of $199,300 for 2022. Bonita also reported depreciation expense of $46,900 and a loss of $6,500 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $17,600 for the year, a $19,600 increase in accounts payable, and a $4,900 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a-sign es. 15,000 or in parenthesis eg. (15,000).) BONITA COMPANY Partial Statement of Cash Flows Adjustments to reconcile net income toStep by Step Solution
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