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Vaughn Manufacturing reported net income of $0.95 million in 2022. Depreciation for the year was $152,000, accounts receivable decreased $332,500, and accounts payable decreased $266,000.
Vaughn Manufacturing reported net income of $0.95 million in 2022. Depreciation for the year was $152,000, accounts receivable decreased $332,500, and accounts payable decreased $266,000. Compute net cash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) Vaughn Manufacturing Statement of Cash Flows-Indirect Approach For the Year Ended December 31, 2022 Net Income 950.000 Adjustments to reconcile net income to Net Decrease in Cash Depreciation Expense $ 152,000 Decrease in Account Receivable 332,500 Decrease in Account Payable Net Cash Provided by Operating Activities $ 1,168,500
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