Question

ygunny, Counting Principles, 12e Practice Assignment Gradebook ORION Downloadable eTextbook signment Exercise 17-5 The current sections of Scoggin Inc.'s balance sheets at December 31, 2016 and 2017 are presented Scoggin's net income for 2017 was $153,600. Depreciation expense was $23,500. 2017 2016 Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities $104,600 108,900 158,600 26,400 $398,500 $98, 100 80,100 171,400 25,100 $374,700 $14,600 85,200 $99,800 $9,600 95,500 $105,100 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the flow with either a sign e.o. 15,000 or in parenthesis .0. (15,000).) SCOGGIN INC Partial Statement of Cash Flows

Answer 1

Answer:

Partial Statement of cash flows
For the year ended december 31,2017
	Amount($)	Amount($)
Cash Flows from Operating Activities:
Net income		1,53,600
Adjustments to reconcile net income to
Net cash provided by operating activities
Depreciation expense	23,500
Increase in Accounts receivables(108900-80100)	-28,800
Decrease in inventory(171400-158600)	12,800
Increase in Prepaid expense(25100-26400)	-1,300
Increase in accrued expenses payable(14600-9600)	5,000
Decrease in accounts payable(95500-85200)	-10,300
		900
Net cash provided by operating activities		1,54,500