In
2011, Oswald Corporation reported a net loss of $56,000. Oswald’s only net
income adjustments were depreciation expense of $87,000 and an increase in
accounts receivable of $8,100. Calculate Oswald’s net cash provided (used) by
operating activities.
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Cash
flows from operating activities
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Net loss
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($56,000)
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Adjustments to reconcile net income
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(loss) to net cash provided by
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operating activities
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|
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Depreciation expense
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$87,000
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Increase in accounts receivable
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(8,100)
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78,900
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Net cash provided by operating activities
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$22,900
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