Answered step by step
Verified Expert Solution
Question
1 Approved Answer
What is my error in this problem,? I don't know why it's telling me this is wrong. Sarasota Photography reported net income of $103.000 for
What is my error in this problem,? I don't know why it's telling me this is wrong.
Sarasota Photography reported net income of $103.000 for 2022. Included in the income statement were depreciation expense of $6,600. patent amortization expense of $4.300, and a gain on disposal of plant assets of $2,900. Sarasota Photography's comparative balance sheets show the following balances. 12/31/22 12/31/21 Accounts receivable $21.600 $27.600 Accounts payable 9.400 6.300 Calculate net cash provided by operating activities for Sarasota Photography. (Show amounts that decrease cash flow with either a-sign eg.-15.000 or in parenthesis eg. (15.000) Sarasota Photography Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities 103000 $ 6600 Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Patent Amortization Expense Gain on Disposal of Plant Assets Decrease in Accounts Recelvable Increase in Accounts Payable 4300 (2900) 6300 3100 17400 Net Cash Provided by Operating Activities 120400Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started