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Exercise 12-05 (Video) The current sections of Larkspur, Inc.'s balance sheets at December 31, 2019 and 2020, are presented here. Larkspur's net income for 2020
Exercise 12-05 (Video) The current sections of Larkspur, Inc.'s balance sheets at December 31, 2019 and 2020, are presented here. Larkspur's net income for 2020 was $154,100. Depreciation expense was $23,100. 2018 2019 Current assets Cash $101,100 111,400 157,000 26,600 $396,100 $97,000 80,600 172,900 25,800 $376,300 Accounts receivable Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable $10,000 95,600 $105,600 $15,600 85,800 $101,400 Total current liabilities Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2020, 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).) Larkspur, Inc. Partial Statement of Cash Flows
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