Question: Please answer problem #36, SHOWING ALL WORK ACCORDINGLY ON ALL PARTS. Thank you! The comparative balance sheets for Concord Corporation show these changes in noncash
The comparative balance sheets for Concord Corporation show these changes in noncash current asset accounts: accounts receivable decreased $71,000, prepaid expenses increased $19,000, and inventories increased $31,000. Compute net cash provided by operating activities using the indirect method, assuming that net income is $177,000. (Show amounts that decrease cash flow with either a - signeg. -15,000 or in parenthesis e.g. (15,000).) Concord Corporation Statement of Cash Flows-Indirect Method Net Cash Provided by Operating Activities Net Income $ 177,000 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Decrease in Accounts Receivable $ 71.000 Increase in Prepaid Expenses 19.000 Increase in Inventories 31,000 21,000 Net Cash Provided by Operating Activities 198.000
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