The current sections of Scoggin Inc.\'s balance sheets at December 31, 2016 and

Question

The current sections of Scoggin Inc.'s balance sheets at December 31, 2016 and 2017, are presented here Scoggin's net income for 2017 was $150,300. Depreciation expense was $23,900 2017 2016 Current assets Cash Accounts receivable Inventory Prepaid expenses $103,300 108,900 157,700 26,900 $97,000 80,100 172,900 25,600 Total current assets Current liabilities Accrued expenses payable Accounts payable $8,100 85,90093,10 $99,900 $103,500 $14,000 Total current liabilltles Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2017, using the indirect method parenthesis e.g. (15,000).) SCOGG?N INC. Partial Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income 174200 Adjustments to reconcile net income to Net Cash Provided by Financing Activitles Depreciation Expense Increase in Accounts Receivable Decrease in Inventory Increase in Prepaid Expenses Increase in Accrued Expenses Payable Decrease in Accounts Payable Net Cash Provided by Operating Activities

Explanation / Answer

Cash Flow from Operating activities Net Income 150300 Adjustments to reconcile net income to Net cash provided by Operating activities Depreciation expenses 23900 Increase in accounts receivables -28800 Decrease in Inventory 15200 Increase in prepaid expenses -1300 Increase in accrued expenses payable 5900 Decrease in accounts payable -9500 5400 Net Cash Provided by Operating activities 155700

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