Exercise 12-4

The current sections of Flint Corporations balance sheets at December 31, 2016 and 2017, are presented here. Flint Corporations net income for 2017 was $156,213. Depreciation expense was $27,567.

		2017		2016
Current assets
Cash		$107,205		$ 101,079
Accounts receivable		81,680		90,869
Inventory		171,528		175,612
Prepaid expenses		27,567		22,462
Total current assets		$387,980		$390,022
Current liabilities
Accrued expenses payable		$ 15,315		$ 5,105
Accounts payable		86,785		93,932
Total current liabilities		$102,100		$ 99,037

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).)