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The current sections of Shamrock, Inc's balance sheets at December 31, 2016 and 2017,are presented here.Shamrock, Inc's net income for 2 was $153,612. Depreciation expense
The current sections of Shamrock, Inc's balance sheets at December 31, 2016 and 2017,are presented here.Shamrock, Inc's net income for 2 was $153,612. Depreciation expense was $27,108. 2017 2016 Current assets Cash Accounts receivable Inventory Prepaid expenses 105,420 $99,396 80,320 89,356 168,672 172,688 27,108 22,088 $381,520 $383,528 Total current assets Current liabilities $5,020 85,340 92,368 $100,400 $97,388 $15,060 Accrued expenses payable Accounts payable Total current liabilities Prepare the net cash provided (used) 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 flow with either a -sign es.-15,000 or in parenthesis e-g. (15,000)) Shamrock, Inc. Partial Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income 153,612 Adjustments to reconcile net income to Net Cash used by Operating Activities Depreciation Expense 27,108 Increase in Accrued Expenses Payable
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