Bonita, Inc. reported net income of $2.90 million in 2022. Depreciation for the year was $185,600,...

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Bonita, Inc. reported net income of $2.90 million in 2022. Depreciation for the year was $185,600, accounts receivable decreased $406,000, and accounts payable decreased $324,800. Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000)) Bonita, Inc. Statement of Cash Flows-Indirect Approach For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Accounts Receivable Decrease Accounts Payable Decrease Depreciation Expense. Net Cash Provided by Operating Activities 406,000 185,600 2,900,000 266,800 3,166,100 Bonita, Inc. reported net income of $2.90 million in 2022. Depreciation for the year was $185,600, accounts receivable decreased $406,000, and accounts payable decreased $324,800. Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000)) Bonita, Inc. Statement of Cash Flows-Indirect Approach For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Accounts Receivable Decrease Accounts Payable Decrease Depreciation Expense. Net Cash Provided by Operating Activities 406,000 185,600 2,900,000 266,800 3,166,100

Answer rating: 100% (QA)

To compute net cash provided by operating activities using the indirect method we need to ... View the full answer