Pina Colada Corp. reported net income of $190,400 for 2022. Pina Colada also reported depreciation expense of $41,900 and a loss of $4,600 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $14,400 for the year, a $16,400 increase in accounts payable, and a $4,100 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000). Pina Colada Corp. Statement of Cash Flows (Partial) - Indirect Method Adjustments to reconcile net income to
Pina Colada Corp. reported net income of $190,400 for 2022. Pina Colada also reported depreciation expense of $41,900 and a loss of $4,600 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $14,400 for the year, a $16,400 increase in accounts payable, and a $4,100 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000). Pina Colada Corp. Statement of Cash Flows (Partial) - Indirect Method Adjustments to reconcile net income to
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Pina Colada Corp. reported net income of $190,400 for 2022. Pina Colada also reported depreciation expense of $41,900 and a loss of
$4,600 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $14,400 for the
year, a $16,400 increase in accounts payable, and a $4,100 increase in prepaid expenses.
Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease
cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000))
Pina Colada Corp.
Statement of Cash Flows (Partial) - Indirect Method
Adjustments to reconcile net income to](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0f3ab4c9-5284-4fe9-86b7-64f76d3d9991%2F615a3398-8ab6-434d-8a08-19b592d35df1%2Fw2qkzja_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Pina Colada Corp. reported net income of $190,400 for 2022. Pina Colada also reported depreciation expense of $41,900 and a loss of
$4,600 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $14,400 for the
year, a $16,400 increase in accounts payable, and a $4,100 increase in prepaid expenses.
Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease
cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000))
Pina Colada Corp.
Statement of Cash Flows (Partial) - Indirect Method
Adjustments to reconcile net income to
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