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Brief Exercise 12-4 Pharoah Company reported net income of $2.8 million in 2019. Depreciation for the year was $158,700, accounts receivable decreased $363,500, and accounts
Brief Exercise 12-4 Pharoah Company reported net income of $2.8 million in 2019. Depreciation for the year was $158,700, accounts receivable decreased $363,500, and accounts payable decreased $287,400. Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Pharoah Company Statement of Cash Flows-Indirect Approach Adjustments to reconcile net income to LINY TO TEYT
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