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Concord Company reported net income of $190,100 for 2022. Concord also reported depreciation expense of $49,900 and a loss of $6,300 on the disposal
Concord Company reported net income of $190,100 for 2022. Concord also reported depreciation expense of $49,900 and a loss of $6,300 on the disposal of plant assets. The comparative balance sheet shows an increase in accounts receivable of $14,600 for the year, a $16,600 increase in accounts payable, and a $4,800 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).) CONCORD COMPANY Statement of Cash Flows (Partial) - Indirect Method Adjustments to reconcile net income to > $ $ $
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