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Current Attempt in Progress Bonita Industries reported net income of $185,710 for 2022. Bonita Industries also reported depreciation expense of $33,740 and a loss of
Current Attempt in Progress Bonita Industries reported net income of $185,710 for 2022. Bonita Industries also reported depreciation expense of $33,740 and a loss of $5,230 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $16,450 for the year, a $17,810 increase in accounts payable, and a $3,980 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 - signe.g.-15,000 or in parenthesis eg. (15,000)) Bonita Industries Partial Statement of Cash Flows Adjustments to reconcile net income to Partial Statement of Cash Flows Adjustments to reconcile net income to
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