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Business, 27.05.2020 15:57 akimadixon13

The current sections of Metlock, Inc.’s balance sheets at December 31, 2019 and 2020, are presented here. Metlock’s net income for 2020 was $151,400. Depreciation expense was $24,200. 2019 2018 Current assets Cash $103,000 $97,100 Accounts receivable 110,000 80,800 Inventory 159,000 171,500 Prepaid expenses 26,000 25,000 Total current assets $398,000 $374,400 Current liabilities Accrued expenses payable $14,500 $9,100 Accounts payable 84,500 95,600 Total current liabilities $99,000 $104,700 Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2020, using the indirect method.

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The current sections of Metlock, Inc.’s balance sheets at December 31, 2019 and 2020, are presented...
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