Flounder Company reported 2017 net income of $156,700. During 2017, accounts receivable increased by $13,900 and...

Flounder Company reported 2017 net income of $156,700. During 2017, accounts receivable increased by $13,900 and accounts payable increased by $9,673. Depreciation expense was $39,900. Prepare the cash flows from operating activities section of the statement of cash flows. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Expert Solution

Flounder Company
Statement of cash flows ( Indirect method)
For the year ended December 31, 2017
	(Amount in $)	(Amount in $)
Cash flows from Operating Activities
Net Income		156,700
Adjustments to reconcile net income to net cash provided by operating activities:
Income statement items not affecting cash:
Depreciation expenses	39,900

Changes in current operating assets and liabilities:
Increase in Accounts receivables	(13,900)
Increase in Accounts Payable	9,673
Net cash provided by operating activities		192,373

ekkarill92 answered 2 years ago

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