The current sections of Leach Inc.'s balance sheets at December 31, 2010 and 2011, are presented here.
Leach's net income for 2011 was $152,760. Depreciation expense was $24,000.
Cash $105,170 $99,170
Accounts receivable 110,300 88,520
Inventory 157,800 171,750
Prepaid expenses 27,370 22,420
Total current assets $400,640 $381,860
Accrued expenses payable $15,060 $4,510
Accounts payable 85,470 92,410
Total current liabilities $100,530 $96,920
Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2011, using the indirect method. (List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow, use either a negative sign preceding the number eg. -45 or parentheses eg (45).)
Partial Statement of Cash Flows
For the Year Ended December 31, 2011
Cash flows from operating activities
Adjustments to reconcile net income
to net cash provided by operating activities
Net cash provided by operating activities $.
The solution prepares the net cash provided by operating activities section of the company's statement of cash flows for the year ended in December 31, 2011, using the indirect method.