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The income statement of Crane Company is presented here. Additional information: 1. Accounts receivable decreased $405,000 during the year, and inventory decreased $261,700. 2. Prepaid
The income statement of Crane Company is presented here. Additional information: 1. Accounts receivable decreased $405,000 during the year, and inventory decreased $261,700. 2. Prepaid expenses increased $183,900 during the year. 3. Accounts payable to suppliers of inventory decreased $331,300 during the year. 4. Accrued expenses payable decreased $108,900 during the year. 5. Administrative expenses include depreciation expense of $111,400. Prepare the operating activities section of the statement of cash flows for the year ended November 30,2022 , for Crane Company, 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). CRANE COMPANY Partial Statement of Cash Flows For the Year Ended November 30, 2022 Cash Flows from Operating Activities Net Income $ djustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $ Decrease in Accounts Receivable Decrease in Inventory Increase in Prepaid Expenses Decrease in Accounts Payable Decrease in Accrued Expenses Payable Net Cash Provided by Operating Activities eTextbook and Media Save for Later Last saved 4 days ago. Attempts: 0 of 3 used Submit
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