that income for 2020 Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2019 2018 $107.500 $97,200 108,300 77,200 159,000 172,100 25,000 $401,000 $371.500 26,200 $14,400 $8,100 85,700 95,900 $100,100 $104,000 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2020, using indirect method. (Show amounts that decrease cash flow with either a-sign og 15,000 or in parenthesise (15,0001)
that income for 2020 Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2019 2018 $107.500 $97,200 108,300 77,200 159,000 172,100 25,000 $401,000 $371.500 26,200 $14,400 $8,100 85,700 95,900 $100,100 $104,000 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2020, using indirect method. (Show amounts that decrease cash flow with either a-sign og 15,000 or in parenthesise (15,0001)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The current sections of Oriole Company's balance sheets at December 31, 2019 and 2020, are presented here.
Oriole's net income for 2020 was $150,500. Depreciation expense was $25,000.
Current assets
Cash
Accounts receivable
Inventory
Prepaid expenses
Total current assets
Current liabilities
Accrued expenses payable
Accounts payable
Total current liabilities
2019
2018
$107,500 $97,200
108,300
77,200
159,000 172,100
26.200
25,000
$401,000 $371.500
$14,400 $8,100
85,700 95,900
$100,100 $104.000
Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2020, using t
indirect method. (Show amounts that decrease cash flow with either a-sign eg-15,000 or in parenthesis eg. (15,000))
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