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The current sections of Crane Inc's balance sheets at December 31, 2019 and 2020, are presented here. Crane's net income for 2020 was $210,000.
The current sections of Crane Inc's balance sheets at December 31, 2019 and 2020, are presented here. Crane's net income for 2020 was $210,000. Depreciation expense was $39,000. 2020 2019 Current assets Cash $122,000 $106,000 Accounts receivable 119,000 96,000 Inventory 161,000 186,000 Prepaid expense 41,000 28,000 Total current assets $443,000 $416,000 Current liabilities Accrued expenses payable $29,000 $12,000 Accounts payable 92,000 107,000 Total current liabilities $121,000 $119,000 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2020, 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).) CRANE INC. Partial Statement of Cash Flows Cash flows from operating activities Adjustments to reconcile net income to $ $
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