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The current sections of Flounder Corp.'s balance sheets at December 31, 2021 and 2022, are presented here. Flounder Corp.'s net income for 2022 was $237,150.
The current sections of Flounder Corp.'s balance sheets at December 31, 2021 and 2022, are presented here. Flounder Corp.'s net income for 2022 was $237,150. Depreciation expense was $41,850. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2022 $162,750 124,000 260,400 41,850 $589,000 $ 23,250 131,750 $155,000 2021 $ 153,450 137,950 266,600 34,100 $592,100 $7,750 142,600 $ 150,350 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).)
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