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The current sections of Metlock, Inc.'s balance sheets at December 31, 2019 and 2020, are presented here. Metlock's net income for 2020 was $151,400. Depreciation
The current sections of Metlock, Inc.'s balance sheets at December 31, 2019 and 2020, are presented here. Metlock's net income for 2020 was $151,400. Depreciation expense was $24,200 2019 2018 Current assets Cash $103,000 $97,100 Accounts receivable 110,000 80,800 Inventory 159,000 171,500 Prepaid expenses 26,000 25,000 $398,000 $374,400 Total current assets Current liabilities Accrued expenses payable $14,500 $9,100 Accounts payable 84,500 95,600 $104,700 $99,000 Total current liabilities 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).) Metlock, Inc. Partial Statement of Cash Flows Adjustments to reconcile net income to
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