The current sections of Splish Brothers Inc's balance sheets at December 31, 2021 and 2022, are presented here. Splish Brothers's net income for 2022 was $152,000. Depreciation expense was $27,200. 2022 2021 Current assets Cash $100,500 $97,200 Accounts receivable 79,800 87,900 Inventory 167,400 171,700 Prepaid expenses 26,000 22,900 Total current assets $373,700 $379,700 Current liabilities Accrued expenses payable $15,600 $8,500 Accounts payable 85,900 95,100 $103,600 Total current liabilities $101,500 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).)

The current sections of Splish Brothers Inc's balance sheets at December 31, 2021 and 2022, are presented here. Splish Brothers's net income for 2022 was $152,000. Depreciation expense was $27,200. 2022 2021 Current assets Cash $100,500 $97,200 Accounts receivable 79,800 87,900 Inventory 167,400 171,700 Prepaid expenses 26,000 22,900 Total current assets $373,700 $379,700 Current liabilities Accrued expenses payable $15,600 $8,500 Accounts payable 85,900 95,100 $103,600 Total current liabilities $101,500 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).)

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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