Lily, Inc. reported net income of $2.3 million in 2022. Depreciation for the year was $161,500, accounts receivable decreased $343,000, and accounts payable decreased $256,700. Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Lily, Inc. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to $ $

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Chapter1: Financial Statements And Business Decisions
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Lily, Inc. reported net income of $2.3 million in 2022. Depreciation for the year was $161,500, accounts receivable decreased
$343,000, and accounts payable decreased $256,700.
Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a - sign
e.g.-15,000 or in parenthesis e.g. (15,000).)
Lily, Inc.
Statement of Cash Flows-Indirect Method
Adjustments to reconcile net income to
Transcribed Image Text:Lily, Inc. reported net income of $2.3 million in 2022. Depreciation for the year was $161,500, accounts receivable decreased $343,000, and accounts payable decreased $256,700. Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) Lily, Inc. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to
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