Problem Partial Statement of Cash Flows of Bellinham Inc

The current sections of Bellinham Inc.’s balance sheets at December 31, 2009 and 2010, are presented here. Bellinham’s net income for 2010 was $153,000. Depreciation expense was $24,000. 2010 2009 Current assets Cash $105,000 $99,000 Accounts receivable 110,000 89,000 Inventory 158,000 172,000 Prepaid expenses 27,000 22,000 Total current assets $400,000 $382,000 Current liabilities Accrued expenses payable $15,000 $5,000 Accounts payable 85,000 92,000 Total current liabilities $100,000 $97,000 Instructions Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2010, using the indirect method. (List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow, use either a negative sign preceding the number eg -45 or parentheses eg (45).)