The current sections of Bellinham Inc.’s balance sheets at December 31, 2009 and 2010, are presented here. Bellinham’s net income for 2010 was $153,000. Depreciation expense was $24,000.

Instructions

Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2010, using the indirect method.

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2010 2009 Current assets $ 99,000 89,000 172,000 22,000 $105,000 Cash Accounts receivable 110,000 158,000 27,000 $400,000 Inventory Prepaid expenses $382,000 Total current assets Current liabilities $ 15,000 85,000 $100,000 $ 5,000 92,000 $ 97,000 Accrued expenses payable Accounts payable Total current liabilities