Reference no: EM132506045
PJ Masks Ltd uses the indirect method for preparing its statement of cash flows. It reported a net income of $100,000 for the year 2017.
During the year 2016, the working capital accounts were changed as follows:
Increase in accounts receivable: $22,000
Increase in accounts payable: $18,600
Increase in inventory: $14,800
Decrease in non-trade notes payable: $30,000
Increase in available for sale securities: $32,000
The depreciation expense was $34,000 for the year 2017.
Required:
Question 1: Compute net cash provided (used) by operating activities using the indirect method.
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