xercise 12-4 The current sections of Sage Hill Inc.’s balance sheets at December
ID: 2408082 • Letter: X
Question
xercise 12-4
The current sections of Sage Hill Inc.’s balance sheets at December 31, 2016 and 2017, are presented here. Sage Hill Inc.’s net income for 2017 was $160,497. Depreciation expense was $28,323.
2017
2016
$110,145
$ 103,851
83,920
93,361
176,232
180,428
28,323
23,078
$398,620
$400,718
$ 15,735
$ 5,245
89,165
96,508
$104,900
$ 101,753
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.
Adjustments to reconcile net income to
Open Show Work
2017
2016
Current assets Cash$110,145
$ 103,851
Accounts receivable83,920
93,361
Inventory176,232
180,428
Prepaid expenses28,323
23,078
Total current assets$398,620
$400,718
Current liabilities Accrued expenses payable$ 15,735
$ 5,245
Accounts payable89,165
96,508
Total current liabilities$104,900
$ 101,753
Explanation / Answer
Cash flow from operating activities :
Cash flow from operating activities Net income 160497 Adjustment to reconcile net income Depreciation expense 28323 Decrease account receivable 9441 Decrease inventory 4196 Increase prepaid expense -5245 Increase Accrued expenses payable 10490 Decrease account payable -7343 39862 Net Cash Provided by Operating Activities 200359Related Questions
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