Question: Your answer is partially correct. The comparative balance sheets for Splish Brothers Inc. show these changes in noncash current asset accounts accounts receivable decreased $
Your answer is partially correct. The comparative balance sheets for Splish Brothers Inc. show these changes in noncash current asset accounts accounts receivable decreased $ 78,500, prepaid expenses increased $ 25,400, and inventories increased $ 43,700. Compute net cash provided by operating activities using the indirect method, assuming that net income is $ 217.200. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis eg. (15,000)) Splish Brothers Inc. Statement of Cash Flows-Indirect Method Cash Flows from Operating Activities Net Income 217.200 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Decrease in Accounts Receivable $ 78.500 v Increase in Prepaid Expenses 25,400 Increase in Inventory 43,700 9.400 226,600 Net Cash Provided by Operating Activities
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