The current sections of Sanford Inc.s balance sheets at December 31, 2013 and 2014, are presented here.

The current sections of Sanford Inc.’s balance sheets at December 31, 2013 and 2014, are presented here. Sanford’s net income for 2014 was $153,000. Depreciation expense was $27,000.

Instructions
Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2014, using the indirectmethod.

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2014 2013 Current assets Cash Accounts receivable Inventory Prepaid expenses $105,000 99,000 89,000 172,000 22,000 $380,000 $382,000 80,000 168,000 27,000 Total current assets Current liabilities Accrued expenses payable 15,0005,000 92,000 Accounts payable Total current liabilities 85,000 $100,000 97,000