GW Photography reported net income of $220,500 for 2012. Included in the income statement were depreciation expense of $13,892, patent amortization expense of $8,820, and a gain on sale of equipment of $7,938. GW’s comparative balance sheets show the following balances. 12/31/12 12/31/11 Accounts receivable $46,305 $59,535 Accounts payable 20,286 13,230
Calculate net cash provided by operating activities for GW Photography. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
GW Photography Statement of Cash Flows For the Year 2012