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Crane Company completed its first year of operations on December 31, 2022. Its initial income statement showed that Crane had sales revenue of $190,000
Crane Company completed its first year of operations on December 31, 2022. Its initial income statement showed that Crane had sales revenue of $190,000 and operating expenses of $70,000. Accounts receivable and accounts payable at year-end were $50,000 and $15,000, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes. Compute net cash provided by operating activities using the direct method. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash provided by operating activities CA $
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