The current sections of Ivanhoe Company's balance sheets at December 31, 2016 and 2017, are...
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The current sections of Ivanhoe Company's balance sheets at December 31, 2016 and 2017, are presented here. Ivanhoe Company's net income for 2017 was $153,918. Depreciation expense was $27,162. 2017 2016 Current assets Cash Accounts receivable Inventory Prepaid expenses $105,630 $99,594 80,480 09,534 109,008 173,032 27162 22.132 382,280 $384,292 Total current assets Current liabilities Accrued expenses $ 15,090 5,030 85,S1092,5S2 Total current liabilaties 5100.500 S97582 Accounts payable Prepare the net cash provided (used) by operating activities section of the company's statement of cash flows for the year ended December 31, 2017, using the indirect methed. (Show amounts that decrease cash fTow with either a - sign e.g. -15,000 or in parenthesis.g (1S,000).) Partial Statement of Cash Flows Cash Flows from Operating Activities Net Income 15391 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Expense 2716 Increase in Accrued Expenses Payable (5030) 10060 (7042 Decrease in Accounts Receivablc Decrease in Accounts Payable Net Cash Provided by Operating Activities 91786 Click if you would like to Show Work for this question: Open Show Work
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