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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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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: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
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
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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