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The current sections of Sanford Inc.s balance sheets at December 31, 2013 and 2014, are presented here. Sanfords net income for 2014 was $480,420. Depreciation
The current sections of Sanford Inc.s balance sheets at December 31, 2013 and 2014, are presented here. Sanfords net income for 2014 was $480,420. Depreciation expense was $84,780.
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The current sections of Sanford Inc.'s balance sheets at December 31, 2013 and 2014, are presented here. Sanford's net income for 2014 was $480,420 Depreciation expense was $84,780 2014 2013 Current assets Cash Accounts receivable Inventory Prepaid expenses $329,700 251,200 527,520 84,780 $1,193,200 $310,860 279,460 540,080 69,080 $1,199,480 Total current assets Current liabilities Accrued expenses payable Accounts payable $47,100 266,900 $15,700 288,880 $314,000 5 304,380 $304,580 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, 2014, 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).)Step by Step Solution
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