The current sections of Larkspur, Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Larkspur's net income for 2022 was $154,100. Depreciation expense was $26,100. 2022 2021 Current assets Cash $101,100 $97,000 Accounts receivable 81,400 90,600 Inventory 167,000 172,900 Prepaid expenses 26,600 22,800 Total current assets $376,100 $383,300 Current liabilities Accrued expenses payable $15,600 $10,000 Accounts payable 85,800 95,600 Total current liabilities $101,400 $105,600 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 e.g. (15,000).) Larkspur, Inc. Partial Statement of Cash Flows Adjustments to reconcile net income to %24

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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The current sections of Larkspur, Inc.'s balance sheets at December 31, 2021 and 2022, are presented here.
Larkspur's net income for 2022 was $154,100. Depreciation expense was $26,100.
2022
2021
Current assets
Cash
$101,100
$97,000
Accounts receivable
81,400
90,600
Inventory
167,000
172,900
Prepaid expenses
26,600
22,800
Total current assets
$376,100
$383,300
Current liabilities
Accrued expenses payable
$15,600
$10,000
Accounts payable
85,800
95,600
Total current liabilities
$101,400
$105,600
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 e.g. (15,000).)
Larkspur, Inc.
Partial Statement of Cash Flows
Adjustments to reconcile net income to
$
Transcribed Image Text:The current sections of Larkspur, Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Larkspur's net income for 2022 was $154,100. Depreciation expense was $26,100. 2022 2021 Current assets Cash $101,100 $97,000 Accounts receivable 81,400 90,600 Inventory 167,000 172,900 Prepaid expenses 26,600 22,800 Total current assets $376,100 $383,300 Current liabilities Accrued expenses payable $15,600 $10,000 Accounts payable 85,800 95,600 Total current liabilities $101,400 $105,600 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 e.g. (15,000).) Larkspur, Inc. Partial Statement of Cash Flows Adjustments to reconcile net income to $
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