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Exercise 12-4 The current sections of Teal Mountain Inc.'s balanoe sheets at December 31, 2016 and 2017, are presented here. Teal Mountain Inc.'s net income

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Exercise 12-4 The current sections of Teal Mountain Inc.'s balanoe sheets at December 31, 2016 and 2017, are presented here. Teal Mountain Inc.'s net income for 2017 was $156,366. Depreciat expense was $27,594 2017 2016 Current essets Cesh Accounts receivable Inventory Prepaid expenses $107,310 81,760 171,696 27,594 $388,360 101,178 90,958 175,784 22,484 $390,404 Total cutrent assets Current sablities s s,110 94,024 $102,200 99,134 $ 15,330 86,870 Accrued expenses peyable Accounts payable Total current liabiities Prepere the net cash provided (used) by operating activities section of the company's statement of cash flows for the year ended December 31, 2017, using the indirect method. (Sho amounts that decrease cash flow with efther a-sign e.g. -15,000 or In parenthesis o.g. (3s,o00) Teal Mountain Inc. Partial Statement of Cash Flows Cash Flows from Operating Activities

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