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The current sections of Bridgeport Corp.'s balance sheets at December 31, 2021 and 2022, are presented here. Bridgeport Corp's net income for 2022 was $76,500.
The current sections of Bridgeport Corp.'s balance sheets at December 31, 2021 and 2022, are presented here. Bridgeport Corp's net income for 2022 was $76,500. Depreciation expense was $13,500. 2022 2021 Current assets Cash $52,500 $49,500 Accounts receivable 40,000 44,500 Inventory 84,000 86,000 Prepaid expenses 13,500 11,000 $190,000 $191,000 Total current assets Current liabilities Accrued expenses payable $7,500 42,500 $2,500 46,000 Accounts payable Total current liabilities $50,000 $48,500 Prepare the net cash provided (used) by operating activities section of the company's statement of cash flows for the year ended December 31, 2022, 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).) Bridgeport Corp. Partial Statement of Cash Flows Adjustments to reconcile net income to
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