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The current sections of Lily Inc's balance sheets at December 31, 2021 and 2022, are presented here. Lily's net income for 2022 was $152,800.
The current sections of Lily Inc's balance sheets at December 31, 2021 and 2022, are presented here. Lily's net income for 2022 was $152,800. Depreciation expense was $24,400. 2022 2021 Current assets Cash $106,100 $100,000 Accounts receivable 74,000 80,300 Inventory 165,500 171,500 Prepaid expenses 26,900 21,000 Total current assets $372,500 $372,800 Current liabilities Accrued expenses payable $15,900 $5,200 Accounts payable 85,800 95,900 Total current liabilities $101,700 $101,100 Prepare the net cash provided 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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