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Scranton inc. reports net income of $248,000 for the year ended december 31. It also reports $95,500 depreciation expense and a $5900 gain in the
Scranton inc. reports net income of $248,000 for the year ended december 31. It also reports $95,500 depreciation expense and a $5900 gain in the sale of the equipment. It's comparative balance sheet reveals a $39,100 decrease in accounts receivable, a $17,550 increase in accounts payable, and a $13,700 decrease in wages payable. Calculate the cash provided in operating activities using the indirect method.
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