The current sections of Coronado Inc's balance sheets at December 31, 2021 and 2022, are presented here. Coronado's net income for 2022 was $152,200. Depreciation expense was $24,500. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2022 $102,400 73,200 2021 $96,100 80,000 167,000 26,800 $369,400 $371,300 172,800 22,400 $15,800 $5,700 86,000 95,600 $101,800 $101,300
The current sections of Coronado Inc's balance sheets at December 31, 2021 and 2022, are presented here. Coronado's net income for 2022 was $152,200. Depreciation expense was $24,500. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2022 $102,400 73,200 2021 $96,100 80,000 167,000 26,800 $369,400 $371,300 172,800 22,400 $15,800 $5,700 86,000 95,600 $101,800 $101,300
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The current sections of Coronado Inc's balance sheets at December 31, 2021 and 2022, are presented here.
Coronado's net income for 2022 was $152,200. Depreciation expense was $24,500.
Current assets
Cash
Accounts receivable
Inventory
Prepaid expenses
Total current assets
Current liabilities
Accrued expenses payable
Accounts payable
Total current liabilities.
2022
$102,400
73,200
2021
$96,100
80,000
167,000
26,800
$369,400 $371,300
172,800
22,400
$15,800
$5,700
86,000
95,600
$101,800 $101,300
Transcribed Image Text:Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December
31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000).)
CORONADO INC.
Statement of Cash Flows (Partial) - Indirect Method
Adjustments to reconcile net income to
0000
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