If newfound produced net income of 225500 what was

Reference no: EM13574579

Newfound Aerial Photography Corp had the following account balance changes at the end of the year. Negative changes are shown in parenthesis.

Accounts Receivable $13,870

Prepaid Expenses ($1,400)

Inventory $15,500

Accumulated Depreciation $8,000

Accounts Payable ($2,655)

Taxes Payable $12,950

If Newfound produced Net Income of $225,500, what was Newfound's cash flow from operating activity? Show how you arrive at the cash flow value (25 points).

Reference no: EM13574579

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