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The current sections of Scoggin Inc.'s balance sheets at December 31, 2019 and 2020, are presented here. Scoggin's net income for 2020 was $152,200.
The current sections of Scoggin Inc.'s balance sheets at December 31, 2019 and 2020, are presented here. Scoggin's net income for 2020 was $152,200. Depreciation expense was $24,500. Current assets 2020 2019 Cash Accounts receivable Inventory Prepaid expenses Total current assets $102,400 $96,100 110,900 80,000 157,000 172,800 26,800 25,600 $397,100 $374,500 Current liabilities Accrued expenses payable Accounts payable Total current liabilities $15,800 86,000 $101,800 $8,700 95,600 $104,300 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).) SCOGGIN INC. Partial Statement of Cash Flows Adjustments to reconcile net income to
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