Bob's, Inc. reported net income of $658,000 and depreciation expense of $57,500 in 20X2. Bob's also...

Bob's, Inc. reported net income of $658,000 and depreciation expense of $57,500 in 20X2. Bob's

also reported income of $625,000 and depreciation expense of $67,500 in 20X1. The current portion of the

balance sheets are reproduced below:

20X2 20X1 20X2 20X1

Current Assets Current Liabilities

Cash and marketable securities 1,000 900 Line of credit 0 1,000

Accounts Receivable 1,500 1,600 Accounts Payable 2,200 2,350

Inventory 4,552 4,337 Accrued expenses 1,505 1,605

Prepaid expenses 110 115

Calculate the 20X2 net cash flow from operating activities for Bob's, Inc.

Expert Solution

jeff jeffy answered 1 year ago

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