The current sections of Leach Inc.'s balance sheets at December 31, 2010 and 2011, are presented here.
Leach's net income for 2011 was $153,000. Depreciation expense was $24,000.
2011 2010
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 assests $400,000 $382,000
Current liabilites
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 31,2011, using the indirect method.