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The current sections of Magic Marine Inc.'s balance sheets at December 31, 2016 and 2017, are presented here. Magic Marine 's net income for 2017
The current sections of Magic Marine Inc.'s balance sheets at December 31, 2016 and 2017, are presented here. Magic Marine 's net income for 2017 was $216,000. Depreciation expense was $34,000. 2017 016 Current assets Cash Accounts receivable Inventory Prepaid insurance $106,000 99,000 89,000 173,000 22,000 $393,000 $383,000 91,000 168,000 28,000 Total current assets Current liabilities Interest payable Accounts payable Total current liabilities $13,000 5,000 85,000 92,000 $ 98,000 97.000 Instructions Prepare only the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2017, using the indirect method
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