The net income for Lily Co. for 2022 was $282,500. For 2022, depreciation on plant assets was $65,400, and the company incurred a loss on disposal of plant assets of $27,600.
Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's accounts. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Lily Co.
Statement of Cash Flows-Indirect Method
For the Year Ended December 31, 2022
Cash Flows from Operating Activities
Net Income
Adjustments to reconcile net income to
Net Cash Provided by Operating Activities
Depreciation Expense
Loss on Disposal of Plant Assets
Cash Flows from Operating Activities
$ 282500
$ 65400
27600
$ 93000
282500