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The current sections of Oriole Company’s balance sheets at December 31, 2019 and 2020, are presented here. Oriole’s net income for 2020 was $150,500. Depreciation expense was $25,000.     2020   2019 Current assets            Cash   $107,500   $97,200    Accounts receivable   108,300   77,200    Inventory   159,000   172,100    Prepaid expenses   26,200   25,000       Total current assets   $401,000   $371,500 Current liabilities            Accrued expenses payable   $14,400   $8,100    Accounts payable   85,700   95,900       Total current liabilities   $100,100   $104,000 Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2020, 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 Oriole Company’s balance sheets at December 31, 2019 and 2020, are presented here. Oriole’s net income for 2020 was $150,500. Depreciation expense was $25,000.     2020   2019 Current assets            Cash   $107,500   $97,200    Accounts receivable   108,300   77,200    Inventory   159,000   172,100    Prepaid expenses   26,200   25,000       Total current assets   $401,000   $371,500 Current liabilities            Accrued expenses payable   $14,400   $8,100    Accounts payable   85,700   95,900       Total current liabilities   $100,100   $104,000 Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2020, 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).)

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)
Fundamentals Of Financial Management, Concise Edition (mindtap Course List)
10th Edition
ISBN:9781337902571
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter3: Financial Statements, Cash Flow, And Taxes
Section: Chapter Questions
Problem 19SP
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The current sections of Oriole Company’s balance sheets at December 31, 2019 and 2020, are presented here.

Oriole’s net income for 2020 was $150,500. Depreciation expense was $25,000.

   
2020
  
2019
Current assets
        
   Cash
  
$107,500
  
$97,200
   Accounts receivable
  
108,300
  
77,200
   Inventory
  
159,000
  
172,100
   Prepaid expenses
  
26,200
  
25,000
      Total current assets
  
$401,000
  
$371,500
Current liabilities
        
   Accrued expenses payable
  
$14,400
  
$8,100
   Accounts payable
  
85,700
  
95,900
      Total current liabilities
  
$100,100
  
$104,000


Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2020, 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).)

Oriole Company
Partial Statement of Cash Flows
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Adjustments to reconcile net income to
    
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select a closing section name                                                           
   $enter a total amount for this section 
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