Problem
Current Attempt in Progress Coronado Company completed its first year of operations on December 31, 2022. Its initial income statement showed that Coronado had sales revenue of $193,600 and operating expenses of $70,700. Accounts receivable and accounts payable at year-end were $69,300 and $30,100, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes.
Compute net cash provided by operating activities using the direct method.