The current sections of Cheyenne Corp's balance sheets at December 31, 2021 and 2022, are presented here. Cheyenne's net income for 2022 was $150,900. Depreciation expense was $26,200. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2022 $107,500 $98,200 78,600 90,700 168,300 172,400 26,700 22,200 $381,100 $383,500 $16,000 84,300 $100,300 Adjustments to reconcile net income to Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2022, 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).) V Cheyenne Corp. Partial Statement of Cash Flows V V 2021 V V $8,100 95.600 $103,700 $
The current sections of Cheyenne Corp's balance sheets at December 31, 2021 and 2022, are presented here. Cheyenne's net income for 2022 was $150,900. Depreciation expense was $26,200. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2022 $107,500 $98,200 78,600 90,700 168,300 172,400 26,700 22,200 $381,100 $383,500 $16,000 84,300 $100,300 Adjustments to reconcile net income to Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2022, 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).) V Cheyenne Corp. Partial Statement of Cash Flows V V 2021 V V $8,100 95.600 $103,700 $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject: acounting
Transcribed Image Text:The current sections of Cheyenne Corp's balance sheets at December 31, 2021 and 2022, are presented here.
Cheyenne's net income for 2022 was $150,900. Depreciation expense was $26,200.
Current assets
Cash
Accounts receivable
Inventory
Prepaid expenses
Total current assets
Current liabilities
Accrued expenses payable
Accounts payable
Total current liabilities
2022
$107,500
78,600
168,300
172,400
26,700
22,200
$381,100 $383,500
$16,000
84,300
$100,300
2021
$98.200
Adjustments to reconcile net income to
90,700
$8,100
95.600
$103,700
Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2022, 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).)
Cheyenne Corp.
Partial Statement of Cash Flows
$
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