Unit 9 homework Q2

data

Q2

The current sections of Crane Inc's balance sheets at December 31, 2021 and 2022, are presented here Crane's net income for 2022 was $150,000. Depreciation expense was $26,000. 2022 2021 Current assets Cash $100,000 S95,000 77.000 87.000 Accounts receivable Inventory Prepaid expenses 167,000 171,000 26,000 22.000 Total current assets $370,000 $375,000 Current liabilities Accrued expenses payable $14,000 $8,000 Accounts payable 84.000 95.000 Total current liabilities $98,000 $103,000 Prepare the operating activities section of the company's statement of cash flows for the year ended December 31, 2022, using the indirect method (Show amounts that decrease cash flow with either a-signes -15,000 or in parenthesises. (15,000) CRANE INC. Partial Statement of Cash Flows $ Adjustments to reconcile net income to > > > $ Textbook and Media