Question

The net income for Mongan Co. for 2022 was $280,000. For 2022, depreciation on plant assets was $70,000, and the company incurred a loss on disposal of plant assets of $28,000. Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's accounts.

Answer 1

The amount of net cash is $3,78,000, and the cash flow statement is shown in the image given below.

What is cashflow statement?

A cash flow statement is also known as a statement of cash flows. It is a financial statement in financial accounting that demonstrates how changes in balance sheet accounts and income effect cash and cash equivalents, and divides the analysis into operating, investing, and financing activities.

Therefore, the cashflow statement of the given information is presented in the image below.

Learn more about the cashflow statement, refer to:

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