The current sections of Martinez Corp's balance sheets at December 31, 2021 and 2022, are presented...
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The current sections of Martinez Corp's balance sheets at December 31, 2021 and 2022, are presented here. Martinez Corp's net income for 2022 was $241,300. Depreciation expense was $39,900. 2022 2021 Current assets Cash $58,900 $84,550 Accounts receivable 80,750 65.550 Inventory 74,100 58,900 Prepaid expenses 16,150 18,050 Total current assets $229,900 $227,050 Current liabilities Accrued expenses payable $ 5,700 $ 15,200 Accounts payable 83,600 68,400 Total current liabilities $89,300 $83,600 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a- signeg.-15,000 or in parenthesis eg. (15,000).) Martinez Corp. Partial Statement of Cash Flows Adjustments to reconcile net income to %24 %24 > > > > The current sections of Martinez Corp's balance sheets at December 31, 2021 and 2022, are presented here. Martinez Corp's net income for 2022 was $241,300. Depreciation expense was $39,900. 2022 2021 Current assets Cash $58,900 $84,550 Accounts receivable 80,750 65.550 Inventory 74,100 58,900 Prepaid expenses 16,150 18,050 Total current assets $229,900 $227,050 Current liabilities Accrued expenses payable $ 5,700 $ 15,200 Accounts payable 83,600 68,400 Total current liabilities $89,300 $83,600 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a- signeg.-15,000 or in parenthesis eg. (15,000).) Martinez Corp. Partial Statement of Cash Flows Adjustments to reconcile net income to %24 %24 > > > >
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Managerial Accounting Tools for business decision making
ISBN: 978-1118096895
6th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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