The current sections of Leach Inc.\'s balance sheets at December 31, 2010 and 20

Question

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 $153,040. Depreciation expense was $24,200.

27,030

21,800

$399,680

$380,830

84,880

92,220

$100,180

$97,160

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).)

For the Year Ended December 31, 2011

$

2011 2010 Current assets    Cash $105,380 $98,570    Accounts receivable 109,760 88,600    Inventory 157,510 171,860    Prepaid expenses

27,030

21,800

        Total current assets

$399,680

$380,830

Current liabilities    Accrued expenses payable $15,300 $4,940    Accounts payable

84,880

92,220

       Total current liabilities

$100,180

$97,160

Explanation / Answer

Net Income 153,040 adjustments: Depreciation 24,200 Decrease in inventory 14,350 Increase in accured expenses payable 10,360 Increase in Accounts receivable -21,160 Decrease in accounts payable -7,340 Increase in prepaid expenses -5,230 Net cash provided by operating activities 168,220

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