The following information was taken from Hive Marketing, Inc.s balance sheets at June 30, 2010 and 2011:

The following information was taken from Hive Marketing, Inc.’s balance sheets at June 30, 2010 and 2011:

Net income for the year ended June 30, 2011, was $62,000. Depreciation expense was $12,750.
Prepare the cash provided by operating activities section of the company’s statement of cash flows for the year ended June 30, 2011, using the indirectmethod.

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2011 2010 Current assets Cash Accounts receivable Inventory Prepaid expenses 71,000 50,000 75,000 35,000 $231,000 $ 65,000 45,000 61,000 $ 41,000 $212,000 Total current assets Current liabilities Accrued expenses payable Accounts payable $ 9,000 62,000 71,000 $10,000 81,000 $91,000 Total current liabilities