Becker Inc. reported net income of $560,000 on its income statement for 2020. Depreciation expense for the year was $63,000.
Over the course of the year, Becker also experienced the following changes in account balances:
Accounts payable: $12,000 increase
Inventory: $18,000 increase
Accounts receivable: $9,000 decrease
Accrued liabilities: $19,000 decrease
Prepaid insurance: $7,000 decrease
Determine net cash provided by operating activities for 2020.
The answer has been presented in the supporting sheet. All the parts has been solved with detailed explanation and format. For detailed answer refer to the supporting sheet.
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