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Carla Vista Photography reported net income of $240,600 for 2017. Included in the income statement were depreciation expense of $15,158, patent amortization expense of $9,624,
Carla Vista Photography reported net income of $240,600 for 2017. Included in the income statement were depreciation expense of $15,158, patent amortization expense of $9,624, and a gain on disposal of plant assets of $8,662. Carla Vista Photography's comparative balance sheets show the following balances. 12/31/17 12/31/16 $50,526 22,135 $64,962 14,436 Accounts receivable Accounts payable Calculate net cash provided (used) by operating activities for Carla Vista Photography. (Show amounts that decrease cash flow with either a -sign e.g 15,000 or in parenthesis e.g. (15,000).) Carla Vista Photography Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities 240600 Net Income Adjustments to reconcile net income to Net Decrease in Cash 9624 Patent Amortization ExpenseV Gain on Disposal of Plant Assets Depreciation Expense (8662); 15158 14436 Decrease in Accounts Receivable 7699 Increase in Accounts Payable 38255 278855 Net Cash Provided by Operating Activities
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