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The comparative balance sheets for Crane Company show these changes in noncash current asset accounts: accounts receivable decreased $67,000, prepaid expenses increased $15,000, and
The comparative balance sheets for Crane Company show these changes in noncash current asset accounts: accounts receivable decreased $67,000, prepaid expenses increased $15,000, and inventories increased $27,000. Compute net cash provided by operating activities using the indirect method, assuming that net income is $173,000. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Crane Company Statement of Cash Flows-Indirect Method Net Cash Provided by Operating Activities Net Income 173000 Adjustments to reconcile net income to Net Decrease in Cash Decrease in Accounts Receivable Increase in Prepaid Expenses Increase in Inventories Cash Flows from Investing Activities $ 67000 15000 27000 LA tA
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