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Exercise 12-06 The current sections of Marin Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Marin Inc.'s net income for 2022
Exercise 12-06 The current sections of Marin Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Marin Inc.'s net income for 2022 was $317,500. Depreciation expense was $52,500. 2022 2021 Current assets Cash Accounts receivable Inventory Prepaid expenses $77,500 106,250 97,500 21,250 $302,500 $ 111,250 86,250 77,500 23,750 $298,750 Total current assets Current liabilities Accrued expenses payable Accounts payable $ 7,500 110,000 $ 20,000 90,000 $ 110,000 Total current liabilities $117,500 Prepare the net cash provided 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).) Prepare the net cash provided 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 tha decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Marin Inc. Partial Statement of Cash Flows Adjustments to reconcile net income to $
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