Question: Please answer question #3, SHOWING ALL WORK ACCORDINGLY ON ALL PARTS NOT ANSWERED. Thank you! Sweet Acacia Industries reported net income of $1.40 million in

Sweet Acacia Industries reported net income of $1.40 million in 2022. Depreciation for the year was $224,000, accounts receivable decreased $490,000, and accounts payable decreased $392,000. Compute net cash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with elther a-sign eg-15,000 or in parenthesis es. (15,000) Sweet Acacia Industries Statement of Cash Flows-Indirect Approach For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income $ 1,400,000 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $ 224,000 Decrease in Account Receivable 490,000 Decrease in Account Payable 322,000 1,722.000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
