Problem: The current sections of Leach Inc.'s balance sheets at December 31, 2010 and 2011, are presented here.
Leach's net income for 2011 was $152,760. Depreciation expense was $24,000.
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2011
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2010
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Current assets
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Cash
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$105,170
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$99,170
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Accounts receivable
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110,300
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88,520
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Inventory
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157,800
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171,750
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Prepaid expenses
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27,370
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22,420
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Total current assets
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$400,640
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$381,860
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Current liabilities
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Accrued expenses payable
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$15,060
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$4,510
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Accounts payable
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85,470
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92,410
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Total current liabilities
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$100,530
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$96,920
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Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2011, using the indirect method.