The comparative balance sheets for Swifty Corporation show these changes in nonc

Question

The comparative balance sheets for Swifty Corporation show these changes in noncash current asset accounts: accounts receivable decrease $82,600, prepaid expenses increase $24,200, and inventories increase $30,400. Compute net cash provided by operating activities using the indirect method assuming that net income is $271,400. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000).) Swifty Corporation Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to

Explanation / Answer

Cash flows from operating activities Net income 271400 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Decrease in accounts receivable . 82600 Prepaid expenses increase -24200 Increase in Inventory -30400 28000 Net Cash Provided by Operating Activities 299400

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