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
$
$
$