Notice: your are to only prepare the operating activities section of the Cash Flow Statement....
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Notice: your are to only prepare the operating activities section of the Cash Flow Statement. Be sure to closely review my small business cash flow example and the E12-7 page 633 that I have included just after my small business cash flow example in the Chapter 12 Module.
E12-4 page 632 : The current sections of Sunn Inc.s balance sheets at December 31,2016 and 2017, are presented here. Sunns net income for 2017 was $153,000. Depreciation expense was $27,000.
2017 2016
Current Assets
Cash $105,000 $99,000
Accounts Receivable $80,000 $89,000
Inventory $168,000 $172,000
Prepaid Expenses $27,000 $22,000
Total Current Assets $380,000 $5,000
Current Liabilities
Accrued expenses payable $15,000 $5,000
Accounts Payable $85,000 $92,000
Total Current Liabilities $100,000 $97,000
Instructions: Prepare the net cash provided by operating activities section of the companys statement of cash flows for the year ended December 31,2017, using the indirect method
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