Question
The current sections of Scoggin Inc.s balance sheets at December 31, 2016 and 2017, are presented here. Scoggins net income for 2017 was $152,200. Depreciation
The current sections of Scoggin Inc.s balance sheets at December 31, 2016 and 2017, are presented here. Scoggins net income for 2017 was $152,200. Depreciation expense was $24,500
2017 | 2016 | |||
Current assets | ||||
Cash | $102,400 | $96,100 | ||
Accounts receivable | 110,900 | 80,000 | ||
Inventory | 157,000 | 172,800 | ||
Prepaid expenses | 26,800 | 25,600 | ||
Total current assets | $397,100 | $374,500 | ||
Current liabilities | ||||
Accrued expenses payable | $15,800 | $8,700 | ||
Accounts payable | 86,000 | 95,600 | ||
Total current liabilities | $101,800 | $104,300 |
| Prepare the net cash provided by operating activities section of the companys statement of cash flows for the year ended December 31, 2017, 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).) |
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