Prepare the net cash provided by operating activities

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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.

Reference no: EM132490994

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