Question: Partial balance sheets and additional information are listed below for Rickey Company.
2024 2023
Rickey Company
Partial Balance Sheets
as of December 31
Assets
Cash $ 25,400 $ 46,000
Accounts receivable 91,000 75,400
Inventory 40,400 46,000
Liabilities
Accounts payable $ 67,400 $ 86,000
Additional information for 2024:
Net income was $166,000.
Depreciation expense was $23,000.
Required:
Prepare the operating activities section of the statement of cash flows for 2024 using the indirect method.
Note: Amounts to be deducted should be indicated with a minus sign.