Miguel, Inc. reported net income of $2.5 million in 2022. Depreciation for the year was $160,000,...
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Miguel, Inc. reported net income of $2.5 million in 2022. Depreciation for the year was $160,000, accounts receivable decreased $350,000, and accounts payable decreased $280,000. Compute net cash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) Miguel, Inc. Statement of Cash Flows-Indirect Approach Adjustments to reconcile net income to Miguel, Inc. reported net income of $2.5 million in 2022. Depreciation for the year was $160,000, accounts receivable decreased $350,000, and accounts payable decreased $280,000. Compute net cash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) Miguel, Inc. Statement of Cash Flows-Indirect Approach Adjustments to reconcile net income to
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