Question

Lily Company reported net income of $193,100 for 2022. Lily also reported depreciation expense of $45,100 and a loss of $6,300 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $19,600 for the year, a $21,600 increase in accounts payable, and a $3,400 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) LILY COMPANY Partial Statement of Cash Flows For the Year Ended December 31, 2022 Adjustments to reconcile net income to $ $ $

          Lily Company reported net income of $193,100 for 2022. Lily also reported depreciation expense of $45,100 and a loss of $6,300 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $19,600 for the year, a $21,600 increase in accounts payable, and a $3,400 increase in prepaid expenses.
Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).)
LILY COMPANY
Partial Statement of Cash Flows
For the Year Ended December 31, 2022
Adjustments to reconcile net income to
$
$
$

Lily Company reported net income of 193,100 for 2022. Lily also reported depreciation expense of45,100 and a loss of 6,300 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of19,600 for the year, a 21,600 increase in accounts payable, and a3,400 increase in prepaid expenses.
Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).)
LILY COMPANY
Partial Statement of Cash Flows
For the Year Ended December 31, 2022
Adjustments to reconcile net income to

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