The current sections of Swifty Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Swifty's net income for 2022 was $151,300. Depreciation expense was $23,300. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2022 $109,700 $103,500 71,000 165,000 26,000 $371,700 $15,800 86,100 2021 $101,900 77,000 173,000 21,500 $375,000 $5,600 95,900 $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 e.g. (15.000).)
The current sections of Swifty Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Swifty's net income for 2022 was $151,300. Depreciation expense was $23,300. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2022 $109,700 $103,500 71,000 165,000 26,000 $371,700 $15,800 86,100 2021 $101,900 77,000 173,000 21,500 $375,000 $5,600 95,900 $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 e.g. (15.000).)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The current sections of Swifty Inc.'s balance sheets at December 31, 2021 and 2022, are presented here.
Swifty's net income for 2022 was $151,300. Depreciation expense was $23,300.
Current assets
Cash
Accounts receivable
Inventory
Prepaid expenses
Total current assets
Current liabilities
Accrued expenses payable
Accounts payable
Total current liabilities.
2022
$109,700 $103,500
71,000
165,000
26,000
$15,800
2021
86,100
$101,900
77,000
$371,700 $375,000
173,000
21,500
$5,600
95,900
$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
e.g. (15,000).)
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