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The current sections of Monty Corp's balance sheets at December 31, 2021 and 2022, are presented here. Monty Corps net income for 2022 was $244.800
The current sections of Monty Corp's balance sheets at December 31, 2021 and 2022, are presented here. Monty Corps net income for 2022 was $244.800 Depreciation expense was $43,200. 2022 2021 Current assets Cash $168,000 $ 158,400 Accounts receivable 128,000 142.400 Inventory 268,800 275,200 35,200 43,200 Prepaid expenses Total current assets $600,000 $611.200 Current liabilities $8,000 $ 24,000 Accrued expenses payable 136,000 147,200 Accounts payable Total current liabilities $160,000 $ 155,200 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 eg.-15,000 or in parenthesis eg. (15,000) Monty Corp. the real del si, U2 Cash Flows from Operating Activities Net Income 244800 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $ 43200 Increase in Accounts Payable 11200 Increase in Prepaid Expenses 8000 -14400 Decrease in Accounts Receivable -6400 Decrease in Inventory - 16000 Decrease in Accrued Expenses Payable 25600 $ 270400 Net Cash Provided by Operating Activities
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