The current sections of Nasreen Inc.'s balance sheets at December 31, - 14080

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Question 5

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Your answer is correct.

 

 

The current sections of Nasreen Inc.'s balance sheets at December 31, 2011 and 2012, are presented here.
Nasreen's net income for 2012 was $153,271. Depreciation expense was $23,056.

 

 

2012

 

2011

Current assets

 

 

 

   Cash

$101,081

 

$95,129

   Accounts receivable

110,481

 

89,589

   Inventory

157,613

 

172,313

   Prepaid expenses

26,501

 

22,204

        Total current assets

$395,676

 

$379,235

 

 

 

 

Current liabilities

 

 

 

   Accrued expenses payable 

$14,620

 

$5,789

   Accounts payable

84,492

 

92,753

       Total current liabilities

$99,112.0

 

$98,542

Instructions

Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2012, using the indirect method. (List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow, use either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

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