The current sections of Ivanhoe Rentals balance sheets at December 31, 2021, and 2020, are...
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The current sections of Ivanhoe Rentals balance sheets at December 31, 2021, and 2020, are presented here. Ivanhoe' profit for 2021 was $159,120. Depreciation expense was $24,960. 2021 2020 Current assets Cash $109,200 $102,960 Accounts receivable 114,400 92,560 Inventory 164,320 178,880 Prepaid expenses 28,080 22,880 Total current assets $416,000 $397,280 Current liabilities $15,600 $5,200 Accrued expenses payable 88,400 95,680 Accounts payable $104,000 $100,880 Total current liabilities w Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2021, 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).) IVANHOE RENTALS Cash Flow Statement (Partial) Adjustments to reconcile profit to >
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