Metlock, Inc. reported net income of $205,840 for 2022. Metlock, Inc. also reported depreciation expense of $37,750 and a loss of $4,660 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $15,940 for the year, a $15,790 increase in accounts payable, and a $4,300 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Please see below

Explanation:

Metlock Inc.

Preparation of Operating activities section of the statement of cash flows for 2022

Net income

$205,840

Adjustment to reconcile net income

to net cash provided by operating activities

Depreciation expense

$37,750

Loss on disposal of plant asset

$4,660

Account receivable increase

($15,940)

Prepaid expense increase

($4,300)

Accounts payable decrease

$15,790

Net cash provided by operating activities

$243,800

The consequences of the crisis were many and varied. Relations between Cuba and the Soviet Union were on shaky ground for some time after Khrushchev's removal of the missiles, as Fidel Castro accused the Russians of backing down from the Americans and deserting the Cuban revolution.

Explanation: