Question - The current sections of Larkspur, Inc.'s balance sheets at December 31, 2016 and 2017, are presented here. Larkspur, Inc.'s net income for 2017 was $163,098. Depreciation expense was $28,782.
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2017
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2016
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Current assets
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Cash
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$111,930
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$105,534
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Accounts receivable
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85,280
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94,874
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Inventory
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179,088
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183,352
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Prepaid expenses
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28,782
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23,452
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Total current assets
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$405,080
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$407,212
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Current liabilities
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Accrued expenses payable
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$15,990
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$5,330
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Accounts payable
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90,610
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98,072
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Total current liabilities
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$106,600
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$103,402
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Prepare the net cash provided (used) by operating activities section of the company's statement of cash flows for the year ended December 31, 2017, using the indirect method.