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Exercise 17-05 (Video) The current sections of Scoggin Inc.'s balance sheets at December 31, 2019 and 2020, are presented here. Scoggin's net income for 2020
Exercise 17-05 (Video) The current sections of Scoggin Inc.'s balance sheets at December 31, 2019 and 2020, are presented here. Scoggin's net income for 2020 was $153,800. Depreciation expense was $23,200. 2020 2019 Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable $109,400 111,700 157,100 26,000 $404,200 $99,300 80,700 171,300 25,700 $377,000 $15,400 84,600 $100,000 58,800 95,300 $104,100 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).) SCOGGIN INC. Partial Statement of Cash Flows Adjustments to reconcile net income to $ S Click if you would like to Show Work for this question: Open Show Work
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