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The current sections of Blossom Rentals balance sheets at December 31, 2021, and 2020, are presented here. Blossom profit for 2021 was $146,880. Depreciation expense
The current sections of Blossom Rentals balance sheets at December 31, 2021, and 2020, are presented here. Blossom profit for 2021 was $146,880. Depreciation expense was $23,040.
The current sections of Blossom Rentals balance sheets at December 31, 2021, and 2020, are presented here. Blossom' profit for 2021 was $146,880. Depreciation expense was $23,040. 2020 2021 Current assets Cash $100,800 $95,040 Accounts receivable 105,600 85,440 Inventory 151,680 165,120 Prepaid expenses 25,920 21,120 Total current assets $384,000 $366,720 Current liabilities Accrued expenses payable $14,400 $4,800 Accounts payable 81,600 88,320 Total current liabilities $96,000 $93,120 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2021, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis eg. (15,000).) BLOSSOM RENTALS Cash Flow Statement (Partial) Year Ended December 31, 2021 Adjustments to reconcile profit to $ $Step by Step Solution
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