The current sections of Pronghorn Corp\'s balance sheets at December 31, 2016 an

Question

The current sections of Pronghorn Corp's balance sheets at December 31, 2016 and 2017, are presented here. Pronghorn Corp's net income for 2017 was $158,202. Depreciation expense was s27,918. 20174040 2016 Current assets $108,570 82,720 173,712 27,918 5392,920 $102,366 92,026 177,848 22,748 5394,988 Cash Accounts receivable Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable $ 15,510 87,890 S103,400 S 5,170 95,128 s 100,298 Total current liabilities 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 c.g. -15,000 or in parenthesis e.g. (15,000).) Pronghorn Corp Partial Statement of Cash Flows For the Year Ended December 31, 2017 Adjustments to reconcile net income to

Explanation / Answer

Net cash flow from operating activities under statement of cash flow :

Cash flow from operating activities Net income 158202 Adjustment to reconcile net income Depreciation expenses 27918 Decrease account receivable 9306 Decrease inventory 4136 Increase prepaid expenses (5170) Increase accured expenses payable 10340 Decrease account payable (7238) Net cash flow from operating activities 197494

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