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Waterway Industries reported net income of $2 million in 2017. Depreciation for the year was $144,000, accounts receivable decreased $343,400, and accounts payable decreased $304,200.
Waterway Industries reported net income of $2 million in 2017. Depreciation for the year was $144,000, accounts receivable decreased $343,400, and accounts payable decreased $304,200. 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).) Waterway Industries Statement of Cash Flows-Indirect Approach - Adjustments to reconcile net income to
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