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The current sections of Scoggin Inc.'s balance sheets at December 31, 2016 and 2017, are presented here. Scoggin's net income for 2017 was $152,000. Depreciation
The current sections of Scoggin Inc.'s balance sheets at December 31, 2016 and 2017, are presented here. Scoggin's net income for 2017 was $152,000. Depreciation expense was $24,900 2017 2016 Current assets Cash Accounts receivable Inventory Prepaid expenses $106,600 109,700 157,000 26,700 400,000 $99,100 77,900 171,900 25,100 374,000 Total current assets Current liabilities Accrued expenses payable Accounts payable $14,600 85,500 100,100 $8,400 5,100 103,500 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, 2017, using the indirect method. (Show amounts that decrease cash fiow 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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