Exercise 12-4

The current sections of Ayayai Corp.s balance sheets at December 31, 2016 and 2017, are presented here. Ayayai Corp.s net income for 2017 was $168,453. Depreciation expense was $29,727.

		2017		2016
Current assets
Cash		$115,605		$ 108,999
Accounts receivable		88,080		97,989
Inventory		184,968		189,372
Prepaid expenses		29,727		24,222
Total current assets		$418,380		$420,582
Current liabilities
Accrued expenses payable		$ 16,515		$ 5,505
Accounts payable		93,585		101,292
Total current liabilities		$110,100		$ 106,797

Prepare the net cash provided (used) by operating activities section of the companys statement of cash flows for the year ended December 31, 2017, 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).)