Exercise 17-05 (Video)

The current sections of Scoggin Inc.s balance sheets at December 31, 2019 and 2020, are presented here. Scoggins net income for 2020 was $153,200. Depreciation expense was $25,000.

		2020		2019
Current assets
Cash		$107,100		$95,400
Accounts receivable		108,300		77,900
Inventory		157,000		171,800
Prepaid expenses		26,100		25,100
Total current assets		$398,500		$370,200
Current liabilities
Accrued expenses payable		$14,100		$8,900
Accounts payable		85,600		95,600
Total current liabilities		$99,700		$104,500

Prepare the net cash provided by operating activities section of the companys 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).)