Alfredo Inc. reports net income of $239,000 for the year ended December 31. It also reports $91,600 depreciation expense and a $5,450 gain on the sale of equipment. Its comparative balance sheet reveals a $37,300 decrease in accounts receivable, a $16,650 increase in accounts payable, and a $13,100 decrease in wages payable. Calculate the cash provided (used) in operating activities using the indirect method.

Cash provided in operating activities is $ 366,000  

Explanation:

Cash flow from Operating Activities:

Net profit:                                                $ 239,000

Adjustments:

Add: Depreciation                                     $ 91,600

Less: Gain on sale of equipment               $(5,450)

Profit before working capital changes      $325,150

Add: Decrease in Account Receivable      $37,300

Add: Increase in Accounts Payable           $16,650

Less: Decrease in Wages payable            $(13,100)

Cash provided in operating activities:      $366,000

$366,000

Explanation:

The solution is given in the attached file

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