Question

Loster Company reported a net loss of $17,017 for the year ended December 31. During the year, accounts receivable decreased by $7,476, inventory increased by $5,997, accounts payable increased by $15,357, and depreciation expense of $5,495 was recorded. What was the net cash used for or provided by operating activities during the year

Answer 1

The answer is $5,314

Step-by-step explanation:

Net loss ($17,017)

Add back:

Depreciation expense. $5,495

($11,522)

Changes in working capital:

Decrease accounts receivable $7,476

Increase Inventory. ($5,997)

Increase accounts payable. $15,357

Net cash provided by operating activities. $5,314