The current sections of Crane Inc.’s balance sheets at December 31, 2021 and 2022, are presented here. Crane’s net income for 2022 was $154,700. Depreciation expense was $26,300.     2022   2021 Current assets            Cash   $102,700   $97,700    Accounts receivable   79,400   90,000    Inventory   168,200   173,000    Prepaid expenses   26,900   22,900       Total current assets   $377,200   $383,600 Current liabilities            Accrued expenses payable   $15,000   $9,300    Accounts payable   84,000   95,600       Total current liabilities   $99,000   $104,900 Prepare the operating activities section of the company’s statement of cash flows for the year ended December 31, 2022, using the indirect method

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
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The current sections of Crane Inc.’s balance sheets at December 31, 2021 and 2022, are presented here. Crane’s net income for 2022 was $154,700. Depreciation expense was $26,300.

   
2022
 
2021
Current assets
       
   Cash
 
$102,700
 
$97,700
   Accounts receivable
 
79,400
 
90,000
   Inventory
 
168,200
 
173,000
   Prepaid expenses
 
26,900
 
22,900
      Total current assets
 
$377,200
 
$383,600
Current liabilities
       
   Accrued expenses payable
 
$15,000
 
$9,300
   Accounts payable
 
84,000
 
95,600
      Total current liabilities
 
$99,000
 
$104,900


Prepare the operating activities section of the company’s statement of cash flows for the year ended December 31, 2022, using the indirect method

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