Flounder Corporation reported net income of $53,000 in 2020. Depreciation expense was $20,100 and unrealized losses...

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Flounder Corporation reported net income of $53,000 in 2020. Depreciation expense was $20,100 and unrealized losses on FV-NI investments were $4,800. The following accounts changed as indicated in 2020: Accounts Receivable $10,100 increase Bond Investment at Amortized Cost 16,900 increase Deferred Tax Assets 2,600 decrease Inventory 6,500 increase Notes Payable (non-trade) 15,200 decrease Accounts Payable 10,600 increase Calculate the net cash provided by operating activities 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).) Net cash operating activities $ Flounder Corporation reported net income of $53,000 in 2020. Depreciation expense was $20,100 and unrealized losses on FV-NI investments were $4,800. The following accounts changed as indicated in 2020: Accounts Receivable $10,100 increase Bond Investment at Amortized Cost 16,900 increase Deferred Tax Assets 2,600 decrease Inventory 6,500 increase Notes Payable (non-trade) 15,200 decrease Accounts Payable 10,600 increase Calculate the net cash provided by operating activities 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).) Net cash operating activities $

Answer rating: 100% (QA)

Cash Flows from Operating Activity Amount Amount Net Income 53000 Adjustments to reconcile net inco... View the full answer