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The current sections of Culver Corporation's balance sheets at December 31, 2021 and 2022, are presented here. Culver Corporation's net income for 2022 was
The current sections of Culver Corporation's balance sheets at December 31, 2021 and 2022, are presented here. Culver Corporation's net income for 2022 was $229,500. Depreciation expense was $40,500. 2022 2021 Current assets Cash $157,500 $ 148,500 Accounts receivable 120,000 133,500 Inventory 252,000 258,000 Prepaid expenses 40,500 33,000 Total current assets $570,000 $573,000 Current liabilities Accrued expenses payable Accounts payable $ 22,500 $7,500 Total current liabilities 127,500 $150,000 138,000 $145,500 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).) Culver Corporation Partial Statement of Cash Flows Adjustments to reconcile net income to $
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