Bok1 - The current sections of Bridgeport Corp.s balance...

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2017 Current assets $105,315 80,240 168,504 27,081 Total current assets $381,140 Current liabilities 85,255 Total current liabilities $100,300 Bridgeport Corp. Partial Statement of Cash Flows Adjustments to reconcile net income to Exercise 12-5 The current sections of Bridgeport Corp.’s balance sheets at December 31, 2016 and 2017, are pr Bridgeport Corp.’s net income for 2017 was $153,459. Depreciation expense was $27,081. Cash Accounts receivable Inventory Prepaid expenses Accrued expenses payable $ 15,045 Accounts payable Prepare the net cash provided (used) by operating activities section of the company’s statement o December 31, 2017, using the indirect method. (Show amounts that decrease cash flow with or in parenthesis e.g. (15,000).) December 31, 2017 Cash Flows from Operating Activities Net Income Net Cash Provided by Operating Activities Depreciation Expense 27081 Decrease in Accounts Receivable 9027 Decrease in Inventory 4012 Increase in Prepaid Expenses - 5015 Decrease in Accounts Payable - 7021 Increase in Accrued Expenses Payable 1030 Net Cash Provided by Operating Activities
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The following information is available for Tamarisk, Inc. for the year ended December 31, 2017. Beginning cash balance Accounts payable decrease 3,881 Depreciation expense 169,938 Accounts receivable increase 8,602 Inventory increase 11,539 Net income 298,021 Cash received for sale of land at book value 36,715 Cash dividends paid 12,588 Income taxes payable increase 4,930
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