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Tamarisk, Inc. reported net income of $2.7 million in 2020. Depreciation for the year was $161,400, accounts receivable decreased $349,400, and accounts payable decreased $304,200.
Tamarisk, Inc. reported net income of $2.7 million in 2020. Depreciation for the year was $161,400, accounts receivable decreased $349,400, and accounts payable decreased $304,200. Compute net cash provided by operating activities 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).) Tamarisk, Inc. Statement of Cash Flows-Indirect Approach For the Year Ended 2020 Cash Flows from Operating Activities Net Income 27000001 Adjustments to reconcile net income to Net Cash Used by Operating Activities Depreciation Expense 161400 Accounts Receivable Decrease 349400 Accounts Payable Decrease -304200 206600 Net Cash Provided by Operating Activities 2906600 Click if you would like to Show Work for this question: Open Show Work
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