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Metlock, Inc. reported net income of $205,840 for 2017. Metlock, Inc. also reported depreciation expense of $37,750 and a loss of $4,660 on the disposal
Metlock, Inc. reported net income of $205,840 for 2017. Metlock, Inc. also reported depreciation expense of $37,750 and a loss of $4,660 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $15,940 for the year, a $15,790 increase in accounts payable, and a $4,300 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2017. 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).) Metlock, Inc Partial Statement of Cash Flows Adjustments to reconcile net income to
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