Please do not give solution in image format thanku The current sections of Waterway Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Waterway's net incomefor 2022 was $150,300. Depreciation expense was $26,900.Current assetsCashAccounts receivableInventoryPrepaid expensesTotal current assetsCurrent liabilitiesAccrued expenses payableAccounts payableTotal current liabilities2022$103,30078,900167,70026,900$14,000202185,900$97,00090.100172,900$376,800 $382,60022,600$8,10095,400$99,900 $103,500 Prepare the operating activities section of the company's statement of cash flows for the year ended December 31, 2022, using theindirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).)WATERWAY INC.Partial Statement of Cash FlowsAdjustments to reconcile net income to✓$$

Statement of cash flows is the financial statement prepared by the entity for the purpose of…

The current sections of Waterway Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Waterway's net income for 2022 was $150,300. Depreciation expense was $26,900. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2022 $103,300 78,900 167,700 26,900 $376,800 $14,000 85,900 $99,900 2021 $97,000 90,100 172,900 22,600 $382,600 $8,100 95,400 $103,500

The current sections of Waterway Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Waterway's net income for 2022 was $150,300. Depreciation expense was $26,900. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2022 $103,300 78,900 167,700 26,900 $376,800 $14,000 85,900 $99,900 2021 $97,000 90,100 172,900 22,600 $382,600 $8,100 95,400 $103,500

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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