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Bonita Industries reported net income of $0.70 million in 2022. Depreciation for the year was $112,000, accounts receivable decreased $245,000, and accounts payable decreased $196,000.
Bonita Industries reported net income of $0.70 million in 2022. Depreciation for the year was $112,000, accounts receivable decreased $245,000, and accounts payable decreased $196,000. Compute net cash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with either a - sign e.g. - 15,000 or in parenthesis e.g. (15,000).) Bonita Industries Statement of Cash Flows-Indirect Approach December 31, 2022 Cash Flows from Operating Activities Net Income 70000000 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Decrease in Account Receivable 112000 Decrease in Account Payable 245000 Depreciation Expense 196000 63000 Net Cash used by Operating Activities 70063000
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