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The account balances for the non-cash current assets and current liabilities of Kid-game Software Inc. are as follows: 2020 Accounts receivable Inventory Prepaid expenses Totals
The account balances for the non-cash current assets and current liabilities of Kid-game Software Inc. are as follows: 2020 Accounts receivable Inventory Prepaid expenses Totals Accounts payable Salaries payable Interest payable Totals December 31 2019 $128.000 $ 100.200 91,000 120 600 54,000 48 800 $ 273,000 $275,600 $ 86,000 $68,000 25.800 37.400 48.800 40.200 $ 160,600 $ 143,600 During 2020, Kid-game Software Inc. reported depreciation expense of $58,000. All purchases and sales are on account. Profit for 2020 was $254,000. Required: 1. Prepare the operating activities section of the statement of flows using the indirect method. (List any deduction in cash and cash outflows as negative amous KID-GAME SOFTWARE INC. Statement of Cash Flows For Year Ended December 31, 2020 Cash flows from operating activities: Adjustments to reconcile profitto net cash provided by operating activities: MacBook
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