Question
The current sections of Wildhorse Co.s balance sheets at December 31, 2021 and 2022, are presented here. Wildhorses net income for 2022 was $152,300. Depreciation
The current sections of Wildhorse Co.s balance sheets at December 31, 2021 and 2022, are presented here. Wildhorses net income for 2022 was $152,300. Depreciation expense was $27,800.
2022 | 2021 | |||
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Current assets | ||||
Cash | $102,100 | $96,100 | ||
Accounts receivable | 78,100 | 90,600 | ||
Inventory | 167,100 | 171,500 | ||
Prepaid expenses | 26,500 | 23,000 | ||
Total current assets | $373,800 | $381,200 | ||
Current liabilities | ||||
Accrued expenses payable | $14,400 | $8,300 | ||
Accounts payable | 85,500 | 95,600 | ||
Total current liabilities | $99,900 | $103,900 |
Prepare the net cash provided by operating activities section of the companys statement of cash flows for the year ended December 31, 2022, 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).)
Wildhorse Co. Partial Statement of Cash Flows Choose the accounting period For the Year Ended December 31, 2022December 31, 2022For the Month Ended December 31, 2022 | ||
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Select an opening section name Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash | ||
Select a cashflow item Increase in Accounts PayableDepreciation ExpenseIncrease in Accrued Expenses PayableNet IncomeDecrease in Accrued Expenses PayableDecrease in Accounts ReceivableIncrease in Prepaid ExpensesIncrease in Accounts ReceivableDecrease in Accounts PayableDecrease in Prepaid ExpensesDecrease in InventoryIncrease in Inventory | $Enter a dollar amount | |
Adjustments to reconcile net income to | ||
Select an opening subsection name Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash | ||
Select a cashflow item Decrease in Accrued Expenses PayableDecrease in Prepaid ExpensesIncrease in Accrued Expenses PayableDepreciation ExpenseIncrease in Prepaid ExpensesNet IncomeDecrease in Accounts PayableIncrease in Accounts PayableIncrease in Accounts ReceivableDecrease in Accounts ReceivableDecrease in InventoryIncrease in Inventory | $Enter a dollar amount | |
Select a cashflow item Increase in Prepaid ExpensesDecrease in InventoryDecrease in Accounts PayableIncrease in Accounts ReceivableNet IncomeIncrease in Accrued Expenses PayableIncrease in Accounts PayableDecrease in Prepaid ExpensesDecrease in Accounts ReceivableDecrease in Accrued Expenses PayableDepreciation ExpenseIncrease in Inventory | Enter a dollar amount | |
Select a cashflow item Increase in Accrued Expenses PayableNet IncomeIncrease in InventoryIncrease in Accounts PayableDepreciation ExpenseDecrease in Prepaid ExpensesIncrease in Prepaid ExpensesDecrease in Accounts ReceivableDecrease in Accrued Expenses PayableIncrease in Accounts ReceivableDecrease in Accounts PayableDecrease in Inventory | Enter a dollar amount | |
Select a cashflow item Increase in Accounts ReceivableIncrease in Prepaid ExpensesDecrease in InventoryDecrease in Accounts PayableIncrease in InventoryIncrease in Accrued Expenses PayableDecrease in Accrued Expenses PayableIncrease in Accounts PayableDecrease in Accounts ReceivableDepreciation ExpenseDecrease in Prepaid ExpensesNet Income | Enter a dollar amount | |
Select a cashflow item Decrease in Accounts ReceivableIncrease in Prepaid ExpensesIncrease in Accounts PayableDepreciation ExpenseDecrease in Prepaid ExpensesIncrease in InventoryIncrease in Accounts ReceivableDecrease in InventoryDecrease in Accrued Expenses PayableDecrease in Accounts PayableIncrease in Accrued Expenses PayableNet Income | Enter a dollar amount | |
Select a cashflow item Net IncomeDecrease in Accounts ReceivableDecrease in Prepaid ExpensesDecrease in Accounts PayableIncrease in Prepaid ExpensesDepreciation ExpenseDecrease in InventoryIncrease in Accounts PayableDecrease in Accrued Expenses PayableIncrease in Accrued Expenses PayableIncrease in Accounts ReceivableIncrease in Inventory | Enter a dollar amount | |
Enter a subtotal for the previous six amounts | ||
Select a closing name for this section Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash | $Enter a total amount for this section |
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