Print by: Erica Burkett AC202:AC202DLU1A2020 Principles of Managerial Account in / AC202 - Chapter 12 Assignment *Exercise 12-4 Your answer is partially correct. Try again. The current sections of Pina Colada Corp.'s balance sheets at December 31, 2016 and 2017, are presented here. Pina Colada Corp.'s net income for 2017 was $167,535. Depreciation expense was $29,565. 2017 2016 Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities $114,975 87,600 183,960 29,565 $416,100 $ 108,405 97,455 188,340 24,090 $418,290 $ 16,425 93,075 $109,500 $5,475 100,740 $ 106,215 Prepare the net cash provided (used) by operating activities section of the company's statement of cash flows for the year ended December 31, 2017, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) 167535 For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 29565 Decrease in Accounts Receivable 9855 Decrease in Inventory 4380 Increase in Prepaid Expenses (5466) Increase in Accrued Expenses Payable 10950 Decrease in Accounts Payable (7655) 41619 Net Cash Provided by Operating Activities 209154 Question Attempts: 1 of 3 used Copyright 2000-2020 by John Wics Sons, incorrected companies nights reserved