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Do It! Review 12-2a Pharoah Photography reported net income of $347,800 for 2017. Included in the income statement were depreciation expense of $21,911, patent amortization
Do It! Review 12-2a Pharoah Photography reported net income of $347,800 for 2017. Included in the income statement were depreciation expense of $21,911, patent amortization expense of $13,912, and a gain on disposal of plant assets of $12,521. Pharoah Photography's comparative balance sheets show the following balances. Accounts receivable Accounts payable 12/31/17 $73,038 31,998 12/31/16 $93,906 20,868 Calculate net cash provided (used) by operating activities for Pharoah Photography. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Pharoah Photography Statement of Cash Flows Adjustments to reconcile net income to
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