The current sections of Flint Corporation’s balance sheets at December 31, 2016 and 2017, are presented here. Flint Corporation’s net income for 2017 was $156,213. Depreciation expense was $27,567. 2017

2016

Current assets
Cash
$107,205

$ 101,079

Accounts receivable
81,680

90,869

Inventory
171,528

175,612

Prepaid expenses
27,567

22,462

Total current assets
$387,980

$390,022

Current liabilities
Accrued expenses payable
$ 15,315

$ 5,105

Accounts payable
86,785

93,932

Total current liabilities
$102,100

$ 99,037

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 method. (Show amounts that decrease cash flow with either a - sign e. g. -15,000 or in parenthesis e. g. (15,000).)

209305

Explanation:

Statement of cash flow

Cash from operating activities

Profit after taxation                                                                           156213

Adjustments :

Depreciation                                                                                       27567

Cash flow from operating activities before working capital changes  183780

Working Capital changes :

Change in trade receivables                                                                  9189

Change in inventories                                                                           4084

Change in prepaid expenses                                                                (5105)

Change in trade payables                                                                      7147

Change in accrued expenses                                                                10210  

Cash generated from operations                                                      209305

answer; the above statement/question is ( true);

answer; /// blank(1); above; blank(2); less;