Acc557 Financial Accounting: E17-5 The current sections of Bellinham Inc.'s balance sheets

Acc557 Financial Accounting

E17-5
The current sections of Bellinham Inc.'s balance sheets at December 31, 2009 and 2010, are presented here. Bellinham's net income for 2010 was $153,000. Depreciation expense was $24,000.
2010 2009
Current assets
Cash 105,000 99,000
Accounts receivable 110,000 89,000
Inventory 158,000 172,000
Prepaid expenses 27,000 22,000
Total current assets 400,000 382,000

Current liabilities
Accrued expenses payable 15,000 5,000
Accounts payable 85,000 92,000
Total current liabilities 100,000 97,000

Instructions
Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2010, using the indirect method. (List multiple entries with a positive cash flow first and then the negative cash flow. List amounts from largest to smallest eg 10, 5, 3, 2. If amount decreases cash flow, use either a negative sign preceding the number eg -45 or parentheses eg (45).)
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