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Vaughn Manufacturing reported net income of $185,060 for 2022. Vaughn Manufacturing also reported depreciation expense of $33,860 and a loss of $4,930 on the disposal
Vaughn Manufacturing reported net income of $185,060 for 2022. Vaughn Manufacturing also reported depreciation expense of $33,860 and a loss of $4,930 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $16,140 for the year, a $15,330 increase in accounts payable, and a $4,310 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Vaughn Manufacturing Partial Statement of Cash Flows Adjustments to reconcile net income to
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