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The current sections of Sunland Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Sunland's net income for 2022 was $151,700. Depreciation expense was $24,300. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accou s payable Total current liabilities 2022 $103,000 68,000 166,500 26,500 $15,400 85,200 2021 $100,600 $98,300 77,900 $364,000 $369,300 171,100 22,000 $6,100 93, $99,400 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

The current sections of Sunland Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Sunland's net income for 2022 was $151,700. Depreciation expense was $24,300. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accou s payable Total current liabilities 2022 $103,000 68,000 166,500 26,500 $15,400 85,200 2021 $100,600 $98,300 77,900 $364,000 $369,300 171,100 22,000 $6,100 93, $99,400 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

FINANCIAL ACCOUNTING
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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Statement of Cash Flows (Partial) - Indirect Method For the Year Ended December 31, 2022 A Adjustments to reconcile net income to + + + $ $ $
Transcribed Image Text:Statement of Cash Flows (Partial) - Indirect Method For the Year Ended December 31, 2022 A Adjustments to reconcile net income to + + + $ $ $
The current sections of Sunland Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Sunland's net income for 2022 was $151,700. Depreciation expense was $24,300. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2022 $103,000 68,000 166,500 26,500 2021 $15,400 85,200 $100,600 $98,300 77,900 171,100 22,000 $364,000 $369,300 $6,100 93,300 $99,400 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).)
Transcribed Image Text:The current sections of Sunland Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Sunland's net income for 2022 was $151,700. Depreciation expense was $24,300. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2022 $103,000 68,000 166,500 26,500 2021 $15,400 85,200 $100,600 $98,300 77,900 171,100 22,000 $364,000 $369,300 $6,100 93,300 $99,400 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).)
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