E17.5 (LO 2), AP The current sections of Sunn Inc.'s balance sheets at December 31, 2021...

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E17.5 (LO 2), AP The current sections of Sunn Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Sunn's net income for 2022 was $153,000. Depreciation expense was $27,000. 2022 2021 Current assets Cash $105,000 $99,000 Accounts receivable 80,000 89,000 Inventory Prepaid expenses 168,000 172,000 27,000 22,000 Total current assets Current liabilities $380,000 $382,000 Accrued expenses payable $ 15,000 $5,000 Accounts payable Total current liabilities 85,000 92,000 $100,000 $ 97,000 Instructions Prepare the operating activities section of the company's statement of cash flows for the year ended December 31, 2022, using the indirect method. Prepare statement of cash flows-indirect method. E17.5 (LO 2), AP The current sections of Sunn Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Sunn's net income for 2022 was $153,000. Depreciation expense was $27,000. 2022 2021 Current assets Cash $105,000 $99,000 Accounts receivable 80,000 89,000 Inventory Prepaid expenses 168,000 172,000 27,000 22,000 Total current assets Current liabilities $380,000 $382,000 Accrued expenses payable $ 15,000 $5,000 Accounts payable Total current liabilities 85,000 92,000 $100,000 $ 97,000 Instructions Prepare the operating activities section of the company's statement of cash flows for the year ended December 31, 2022, using the indirect method. Prepare statement of cash flows-indirect method.

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Statement of cashflow operating activities section Particulars Amount Amount Cash Flow from operat... View the full answer