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The current sections of Bellinham Inc.'s balance sheets at December 31, 2007 and 2008, are presented here. Bellinham's net income for 2008 was $153,000. Depreciation
The current sections of Bellinham Inc.'s balance sheets at December 31, 2007 and 2008, are presented here. Bellinham's net income for 2008 was $153,000. Depreciation expense was $24,000. 2008 2007 Current assets Cash $105,000 $99,000 Accounts receivable 110,000 89,000 Inventory 158,000 172,000 Prepaid expenses 27,000 22,000 Total current assets $400,000 $382,000 Current liabilities Accrued expenses payable $15,000 $5,000 Accounts payable 85,000 92,000 Total current liabilities $100,000 $97,000 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2008, using the indirect method. (List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow, use either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) BELLINGHAM INC, Partial Statement of Cash Flows For the Year Ended December 31, 2008 Cash flows from operating activities Decrease in inventoryIncrease in prepaid expensesDepreciation expenseDecrease in prepaid expensesIncrease in accounts payableDecrease in accrued expenses payableIncrease in inventoryDecrease in accounts payableNet incomeIncrease in accrued expenses payableDecrease in accounts receivableIncrease in accounts receivable $ Adjustments to reconcile net income to net cash provided by operating activities Increase in accrued expenses payableDecrease in accounts payableDecrease in accounts receivableIncrease in accounts receivableDepreciation expenseIncrease in accounts payableDecrease in accrued expenses payableDecrease in inventoryDecrease in prepaid expensesIncrease in prepaid expensesIncrease in inventoryNet income $ Decrease in accounts payableIncrease in accounts receivableIncrease in accounts payableDecrease in accrued expenses payableIncrease in accrued expenses payableIncrease in inventoryDecrease in accounts receivableNet incomeIncrease in prepaid expensesDecrease in inventoryDepreciation expenseDecrease in prepaid expenses Decrease in accrued expenses payableIncrease in prepaid expensesDepreciation expenseDecrease in prepaid expensesDecrease in accounts receivableIncrease in accrued expenses payableIncrease in inventoryIncrease in accounts receivableIncrease in accounts payableDecrease in inventoryNet incomeDecrease in accounts payable Net incomeDecrease in accrued expenses payableIncrease in accounts payableIncrease in inventoryDecrease in accounts payableIncrease in accrued expenses payableIncrease in accounts receivableDecrease in accounts receivableDecrease in prepaid expensesIncrease in prepaid expensesDepreciation expenseDecrease in inventory Increase in accounts receivableIncrease in accrued expenses payableDepreciation expenseIncrease in accounts payableIncrease in prepaid expensesDecrease in prepaid expensesNet incomeDecrease in accounts payableDecrease in inventoryDecrease in accrued expenses payableIncrease in inventory Decrease in inventoryDecrease in accounts receivableDecrease in accounts payableDepreciation expenseIncrease in accounts receivableNet incomeIncrease in accounts payableDecrease in prepaid expensesIncrease in prepaid expensesIncrease in inventoryDecrease in accrued expenses payableIncrease in accrued expenses payable Net cash provided by operating activities $ Click here if you would like to Show Work for this
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