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Larkspur, Inc. reported net income of $196,300 for 2022. Larkspur also reported depreciation expense of $47,800 and a loss of $5,000 on the disposal
Larkspur, Inc. reported net income of $196,300 for 2022. Larkspur also reported depreciation expense of $47,800 and a loss of $5,000 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $10,100 for the year, a $12,100 increase in accounts payable, and a $4,400 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Larkspur, Inc. Partial Statement of Cash Flows Adjustments to reconcile net income to > A K SA $ > > > > > > SA $
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