Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2020, using indirect method. (Show amounts that decrease cash flow with either a-signeg.-15,000 or in parenthesis eg. (15,000!) Oriole Company Partial Statement of Cash Flows Adjustments to reconcile net income to e Textbook and Media Save for Later Attempts of 15 used Submit BOS acer The following are the financial statements of Tamarisk, Inc. Tamarisk, Inc. Comparative Balance Sheets December 31 Assets 2020 Cash $36,300 Accounts receivable 32,900 Inventory 30,800 Equipment Accumulated depreciation equipment 29,300) Total $130,600 2019 $19,000 19.900 20,300 77.400 23,300) $113,300 59,900 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained carnings Total $28,400 7,000 27.800 17,800 49,600 $130,600 $16,600 8,100 32,000 14,300 42,300 $113,300 Tamarisk, Inc. Income Statement For the Year Ended December 31, 2020 Sales revenue $242,000 Cost of goods sold 176,500 Gross pront 65,500 Operating expenses 23,100 Income from operations 42,400 Interest expense 2,500 Income before income taxes 39.900 Income tax expense 8.400 Net Income $31.500 BO acer 250 t ON Additional data: 1. Dividends declared and paid were $24 200. 2. During the year, equipment was sold for $9,600 cash. This equipment cost $17,500 originally and had a book value of $9.600 at the time of sale. 3. All depreciation expense, $13,900, is in the operating expenses. 4. All sales and purchases are on account. Prepare a statement of cash flows using the Indirect method. (Show amounts that decrease cash flow with elther a-signes. -15,000 or in parenthesis eg (15,000).) Tamarisk, Inc. Statement of Cash Flows Adjustments to reconcile net income to acer oon w e Textbook and Media Attempts: 0 of 15 used Submit Answer 11080 acer : 47 u0 * 00 w rtly u o 'r llg lb Question 2 View Policies Current Attempt in Progress The current sections of Oriole Company's balance sheets at December 31, 2019 and 2020, are presented here. Oriole's net income for 2020 was $150,500. Depreciation expense was $25,000. 2019 2018 Current assets Cash $107,500 $97,200 Accounts receivable 108,300 77,200 Inventory 159,000 26,200 172,100 25,000 Prepaid expenses Total current assets $401,000 $371,500 Current liabilities Accrued expenses payable $14.400 $8.100 Accounts payable Total current liabilities 85,700 95,900 $100,100 $104,000 es Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December indirect method. (Show amounts that decrease cash flow with elther a-sign e.g.-15,000 or in parenthesis e.g. (15.000
