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Question - The current sections of Scoggin Inc.'s balance sheets at December 31, 2019 and 2020, are presented here.
Scoggin's net income for 2020 was $152,700. Depreciation expense was $24,600.
2020
2019
Current assets
Cash
$107,600
$95,900
Accounts receivable
108,400
79,400
Inventory
157,800
172,100
Prepaid expenses
26,800
25,000
Total current assets
$400,600
$372,400
Current liabilities
Accounts payable
84,900
95,500
Total current liabilities
$100,700
$104,100
Required - Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2020, using the indirect method.
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