Question: The comparative balance sheets for Gale Company show these changes in noncash current asset accounts: accounts receivable decreased $80,000, prepaid expenses increased $28,000, and
The comparative balance sheets for Gale Company show these changes in noncash current asset accounts: accounts receivable decreased $80,000, prepaid expenses increased $28,000, and inventories increased $40,000. Compute net cash provided by operating activities using the indirect method, assuming that net income is $186,000. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis e.g. (15,000)) Gale Company Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to
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