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Crane Company reported net income of $190,000 for 2022. Crane also reported depreciation expense of $40,000 and a loss of $4,500 on the disposal of
Crane Company reported net income of $190,000 for 2022. Crane also reported depreciation expense of $40,000 and a loss of $4,500 on the disposal of plant assets. The comparative balanke sheets show an increase in accounts receivable of $10,000 for the year, a $12,000 increase in accounts payable, and a $3,000 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decreas cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) CRANE COMPANY Partial Statement of Cash Flows Adjustments to reconcile net income to
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