Flint Corporation reported net income of $47,200 in 2020. Depreciation expense was $17,000. The following working capital accounts changed.Accounts receivable $10,200 increaseAvailable-for-sale debt securities 15,900 increaseInventory 6,900 increaseNontrade note payable 13,500 decreaseAccounts payable 12,300 increaseCompute net cash provided by operating activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Flint CorporationStatement of Cash Flows (Partial)Adjustments to reconcile net income to%24%24>>>>>

Cash flows from operating activities: It is a section of Statement of cash flow that explains the…

Answered: Flint Corporation reported net income…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Flint Corporation reported net income of $47,200 in 2020. Depreciation expense was $17,000. The following working capital accounts changed.

Accounts receivable	$10,200	increase
Available-for-sale debt securities	15,900	increase
Inventory	6,900	increase
Nontrade note payable	13,500	decrease
Accounts payable	12,300	increase

Compute net cash provided by operating activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Flint Corporation
Statement of Cash Flows (Partial)
Adjustments to reconcile net income to
%24
%24
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