Question 6

Blue Spruce Corp. reported net income of $194,300 for 2022. Blue Spruce also reported depreciation expense of $46,800 and a loss of $5,900 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $19,800 for the year, a $21,800 increase in accounts payable, and a $3,400 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 e.g. -15,000 or in parenthesis e.g. (15,000).)

Blue Spruce Corp. Partial Statement of Cash Flows Choose the accounting period For the Month Ended December 31, 2022December 31, 2022For the Year Ended December 31, 2022
Select an opening section name Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Select a cashflow item Increase in Accounts ReceivableLoss on Disposal of Plant AssetsDecrease in Prepaid ExpensesNet IncomeDepreciation ExpenseIncrease in Accounts PayableIncrease in Prepaid ExpensesDecrease in Accounts ReceivableDecrease in Accounts Payable		$Enter a dollar amount
Adjustments to reconcile net income to
Select an opening subsection name Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Select a cashflow item Decrease in Accounts ReceivableDepreciation ExpenseIncrease in Prepaid ExpensesLoss on Disposal of Plant AssetsIncrease in Accounts PayableNet IncomeDecrease in Accounts PayableIncrease in Accounts ReceivableDecrease in Prepaid Expenses	$Enter a dollar amount
Select a cashflow item Decrease in Prepaid ExpensesDecrease in Accounts ReceivableIncrease in Accounts PayableLoss on Disposal of Plant AssetsDecrease in Accounts PayableDepreciation ExpenseNet IncomeIncrease in Prepaid ExpensesIncrease in Accounts Receivable	Enter a dollar amount
Select a cashflow item Decrease in Accounts PayableLoss on Disposal of Plant AssetsDepreciation ExpenseDecrease in Prepaid ExpensesDecrease in Accounts ReceivableNet IncomeIncrease in Accounts PayableIncrease in Accounts ReceivableIncrease in Prepaid Expenses	Enter a dollar amount
Select a cashflow item Increase in Accounts PayableDepreciation ExpenseDecrease in Accounts PayableIncrease in Accounts ReceivableIncrease in Prepaid ExpensesNet IncomeLoss on Disposal of Plant AssetsDecrease in Accounts ReceivableDecrease in Prepaid Expenses	Enter a dollar amount
Select a cashflow item Decrease in Accounts PayableIncrease in Accounts PayableNet IncomeDecrease in Accounts ReceivableDecrease in Prepaid ExpensesDepreciation ExpenseLoss on Disposal of Plant AssetsIncrease in Accounts ReceivableIncrease in Prepaid Expenses	Enter a dollar amount
		Enter a subtotal for the previous five amounts
Select a closing name for this section Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash		$Enter a total amount for this section