The current sections of Kitselton Inc.€™s balance sheets at December 31, 2009 and 2010, are presented here. Kitselton€™s net income for 2010 was $153,000. Depreciation expense was $34,000.

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 indirectmethod.

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2010 2009 Current assets Cash Accounts reccivable Inventory Prepaid expenses $105,000 99,000 89,000 172,000 22,000 100,000 168,000 27,000 Total current assets $400,000382,000 Current liabilitics Accrued expenses payable 15,000 5,000 92,000 Accounts payable Total current liabilities 85,000 $100,000 97,000