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The current sections of Teal Mountain Inc.'s balance sheets at December 31, 2016 and 2017, are presented here. Teal Mountain Inc's net income for 2017
The current sections of Teal Mountain Inc.'s balance sheets at December 31, 2016 and 2017, are presented here. Teal Mountain Inc's net income for 2017 was $156,366. Depreciation expense was $27,594 2017 2016 Current assets $107,310 Cash Accounts receivable Inventory Prepaid expenses 81,760 171,696 22,484 27,594 $101,178 90,958 175,784 388,360 390,404 Total current assets Current liabilities Accrued expenses payable Accounts payable 15,330 86,870 $102,200 s 5,110 94,024 $99,134 Total current liabilities Prepare the net cash provided (used) by operating activities section of the company's method. (Show amounts that decrease cash flow with either a sign e.g. -15,000 statement of cash fows for the year ended December 31, 2017, using the indirect or in parenthesis e.g. (15,000).)
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