The current sections of Scoggin Inc.'s balance sheet at December 31, 2016 and 2017, are presented...
The current sections of Scoggin Inc.'s balance sheet at December 31, 2016 and 2017, are presented here. Scoggin's net income for 2017 was $153,000. Depreciation expense was $24,000
2017 2016
Current assets
Cash $105,000 $99,000
Accounts Receivable 110,000 89,000
Inventory 158,000 172,000
Prepaid expenses 27,000 23,000
Total current assets $400,000 $ 382,000
Current Liabilities
Accrued expense possible $15,000 $. 5,000
Accounts payable 85,000 92,000
Total current liabilities. $100,000 $ 97,000
Prepare the net cash provided by operating activities section on the company's statement of cash flows for the year ended December 31, 2017, using the indirect method.
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The current sections of Scoggin Inc.'s balance sheet at December
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