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The following information was provided by Pauls Guitar Shop Net Income $12,950 Depreciation Expense $2000 Increase Accounts receivable $300 Increase Inventory $3,800 Increase Prepaid expenses

The following information was provided by Pauls Guitar Shop

Net Income $12,950

Depreciation Expense $2000

Increase Accounts receivable $300

Increase Inventory $3,800

Increase Prepaid expenses $1,000

Decrease Accounts payable $9,000

Increase Accrued expenses and unearned revenues $1,450

Purchase of property and equipment $101,000

Using the indirect method, calculate the net cash provided by operating activities

Pauls Guitar Shop

Statement of Cash Flows

For year ended December 31, 2019

Cash flows from operating activities

$

$

Adjustments to reconcile net income to net cash provided by operating activities: Income statement items not affecting cash

Depreciation expense

Changes in current assets and liabilities

Net Cash provided by operating activities

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