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Current Attempt in Progress The current sections of Ivanhoe Company's balance sheets at December 31, 2021 and 2022, are presented here. Ivanhoe Company's net income
Current Attempt in Progress The current sections of Ivanhoe Company's balance sheets at December 31, 2021 and 2022, are presented here. Ivanhoe Company's net income for 2022 was $99,450. Depreciation expense was $17,550. 2022 2021 Current assets Cash $68,250 $64,350 Accounts receivable 52,000 57,850 Inventory 109,200 111,800 Prepaid expenses 17,550 14.300 Total current assets $247,000 $248,300 Current liabilities Accrued expenses payable $9,750 $3,250 Accounts payable 55,250 59,800 Total current liabilities $65,000 $63,050 Prepare the net cash provided (used) by operating activities section of the company's statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Ivanhoe Company Partial Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income 99,450 Adjustments to reconcile net income to Cash Flows from Operating Activities Cash Flows from Operating Activities e Textbook and Media
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