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Pina Colada Corp. reported net income of $190,400 for 2022. Pina Colada also reported depreciation expense of $41,900 and a loss of $4,600 on
Pina Colada Corp. reported net income of $190,400 for 2022. Pina Colada also reported depreciation expense of $41,900 and a loss of $4,600 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $14,400 for the year, a $16,400 increase in accounts payable, and a $4,100 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 eg.-15.000 or in parenthesis eg. (15,000)) Pina Colada Corp. Statement of Cash Flows (Partial) - Indirect Method Adjustments to reconcile net income to > < >
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