Prepare the net cash provided by operating activities

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Question - The current sections of Blossom Rentals balance sheets at December 31, 2021, and 2020, are presented here. Blossom' profit for 2021 was $113,220. Depreciation expense was $17,760.

 

2021

2020

Current assets

 

 

Cash

$77,700

$73,260

Accounts receivable

81,400

65,860

Inventory

116,920

127,280

Prepaid expenses

19,980

16,280

Total current assets

$296,000

$282,680

Current liabilities

 

 

Accrued expenses payable

$11,100

$3,700

Accounts payable

62,900

68,080

Total current liabilities

$74,000

$71,780

Required - 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?

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