Waterway Company completed its first year of operations on December 31, 2025. Its initial income statement showed that Waterway had sales revenue of $205,722 and operating expenses of $86,237. Accounts receivable and accounts payable at year-end were $62,340 and $23,897, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes. Compute net cash provided (used) by operating activities using the direct method. (Show amounts that decrease cash flow with either a- sign e.g.-15,000 or in parenthesis e.g. (15,000)) Net cash provided (used) by operating activities $

Waterway Company completed its first year of operations on December 31, 2025. Its initial income statement showed that Waterway had sales revenue of $205,722 and operating expenses of $86,237. Accounts receivable and accounts payable at year-end were $62,340 and $23,897, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes. Compute net cash provided (used) by operating activities using the direct method. (Show amounts that decrease cash flow with either a- sign e.g.-15,000 or in parenthesis e.g. (15,000)) Net cash provided (used) by operating activities $

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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