The current sections of Scoggin Inc.\'s balance sheets at December 31, 2014 and

Question

The current sections of Scoggin Inc.'s balance sheets at December 31, 2014 and 2015, are presented here. Scoggin's net income for 2015 was $151,230. Depreciation expense was $24,550 2015 2014 Current assets Cash Accounts receivable Inventory Prepaid expenses $107,930 110,990 158,100 26,320 $403,340 $97,100 90,590 171,270 22,590 $381,550 Total current assets Current liabilities Accrued expenses payable Accounts payable $15,430 85,080 $100,510 $4,250 92,500 $96,750 Total current liabilities Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2015, 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).,)

Explanation / Answer

SCOGGIN INC. Partial Sttement of Cash Flows For the year ended december 31, 2015 Amount ($) Cash flow from operating activities: Net income 151,230 Adjustment to reconcile net income Depreciation Expenses 24,550 Increase in accounst Receivable -20,400 Decrease in inventory 13,170 Increase in prepaid expenses -3,730 Increase in accrued expenses payable 11,180 Decrease in acccounts payable -7,420 17,350 Cash flow from operating activites 168,580

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