Exercise 12-5 The current sections of Putzier Inc.’s balance sheets at December 31, 2011 and 2012, are presented here. Putzier’s net income for 2012 was $533,511. Depreciation expense was $94,149. 2012 2011 Current assets Cash $366,135 $ 345,213 Accounts receivable 278,960 310,343 Inventory 585,816 599,764 Prepaid expenses 94,149 76,714 Total current assets $1,325,060 $1,332,034 Current liabilities Accrued expenses payable $ 52,305 $ 17,435 Accounts payable 296,395 320,804 Total current liabilities $348,700 $ 338,239 Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2012, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Exercise 12-5

 

The current sections of Putzier Inc.’s balance sheets at December 31, 2011 and 2012, are presented here. Putzier’s net income for 2012 was $533,511. Depreciation expense was $94,149.

		2012		2011
Current assets
Cash		$366,135		$ 345,213
Accounts receivable		278,960		310,343
Inventory		585,816		599,764
Prepaid expenses		94,149		76,714
Total current assets		$1,325,060		$1,332,034
Current liabilities
Accrued expenses payable		$ 52,305		$ 17,435
Accounts payable		296,395		320,804
Total current liabilities		$348,700		$ 338,239

Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2012, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

 

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