Question: Need help with the incorrect statement below. Suffolk Company Partial Statement of Cash Flows For the Year Ended December 31, 2017 Cash Provided by Operating

Need help with the incorrect statement below.

Need help with the incorrect statement below. Suffolk Company Partial Statement of

Cash Flows For the Year Ended December 31, 2017 Cash Provided by

Suffolk Company Partial Statement of Cash Flows For the Year Ended December 31, 2017 Cash Provided by Operating Activities Net income 44,790 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense 20,680 Increase in accounts receivable -8,190 Decrease in inventory 9,740 Increase in prepaid rent -1,590 Increase in accounts payable 6,570 Decrease in income taxes payable -4,160 Increase in interest payable 2.710 Net cash inflow from operating activities $ 70,550 Feedback Check My Work Other 2. Net cash inflow from operating activities is $ 70,550 and the primary reason why it is higher than net income is depreciation reasons for the higher amount of net cash inflow from operating activities are increase in accounts receivable X and increase in prepaid rent X increase in inventory 7 Feedback increase in accounts payable increase in accounts receivable Check My Work decrease in accounts payable decrease in accounts receivable Feedback decrease in income taxes payable Check My Work activities $ 70,550 increase in inventory increase in accounts receivable increase in prepaid rent decrease in inventory decrease in interest payable Other decrease in income taxes payable activities is $ 70,550 and the primary reason why it is higher than net income is depreciation net cash inflow from operating activities are increase in accounts receivable X and increase in prepaid rent X

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