LACEY COMPANY Partial Statement of Cash Flows For the Year Ended December 31, 2022 - Net Income /(Loss) 310,000 Adjustments to reconcile net income to Net Cash Provided by Operating Activities : Depreciation Expense 45,000 Increase in Accounts Receivable (55,000) Decrease in Inventory 12,000 Increase in Accounts Payable 6,000 Increase in Prepaid Expenses (4,000) Decrease in Income Taxes Payable (3,500) Gain on Disposal of Land (7,500) Net Cash Used by Operating Activities - 303,000 e Textbook and Media