The current sections of Nasreen SA’s statements of financial position at December 31, 2019 and 2020, are presented here. Nasreen’s net income for 2020 was €147,000. Depreciation expense was €21,000.

Instructions
Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2020, using the indirect method.

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2020 2019 Current assets € 27,000 € 25,000 172,000 Prepaid expenses Inventory Accounts receivable 158,000 110,000 79,000 99,000 Cash 105,000 €375,000 Total current assets €400,000 Current liabilities Accrued expenses payable Accounts payable € 15,000 € 9,000 85,000 95,000 Total current liabilities €100,000 €104,000