Z Your answer is partially correct. Try again. Wise Photography reported net income of $115,800...
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Z Your answer is partially correct. Try again. Wise Photography reported net income of $115,800 for 2020. Included in the income statement were depreciation expense of $4,900 amortization expense of $2,600, and a gain on disposal of plant assets of $3,700. Wise's comparative balance sheets show the following balances. 12/31/19 12/31/20 Accounts receivable $26,200 $21,500 Accounts payable 6,200 8,700 Calculate net cash provided by operating activities for Wise Photography. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Wise Photography Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities 115800 Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities v Amortization Expense 4.900 2.600 Gain on Disposal of Plant Assets v Decrease in Accounts Receivable v (3.700) Increase in Accounts Payable 4.700 Decrease in Accounts Receivable v 2.500 11000 Net Cash Provided by Operating Activities 126800
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