7456

The current sections of Ivanhoe Company’s balance sheets at December 31, 2016 and 2017, are presented here. Ivanhoe Company’s net income for 2017 was $153,918. Depreciation expense was $27,162. 2017 2016 Current assets Cash $105,630 $99,594 Accounts receivable 80,480 89,534 Inventory 169,008 173,032 Prepaid expenses 27,162 22,132 Total current assets $382,280 $384,292 Current liabilities Accrued expenses payable $15,090 $5,030 Accounts payable 85,510 92,552 Total current liabilities $100,600 $97,582
Prepare the net cash provided (used) by operating activities section of the company’s statement of cash flows for the year ended December 31, 2017, using the indirect method. (Show amounts that decrease cash flow with either a – sign e.g. -15,000 or in parenthesis e.g. (15,000).) Ivanhoe Company
Partial Statement of Cash Flows
$
Adjustments to reconcile net income to

Attachments:

Exercise-12-4….docxExercise-12-5….docxBrief-Exercis….docxProblem-12-7A….docxBrief-Exercis….docx