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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 $150,900. 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 Total current liabilities $107,500 108,600 158,300 26,700 $401,100 $98,200 80,700 172,400 25,200 $376,500 $16,000 84,300 $100,300 $8,100 95,600 $103,700 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year er flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000).) SCOGGIN INC. Partial atement of Cash Flows Adjustments to reconcile net income to
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