Webster Corporation’s statement of cash flows for the year ended December 31, 2002, was prepared using the indirect method, and it included the following items:
| Net income Don't use plagiarized sources. Get Your Custom Essay on what amount of cash did webster receive from customers during the year ended decembe 544537 For $10/Page 0nly | $100,000 |
| Noncash adjustments: | |
| Depreciation expense | 20,000 |
| Decrease in accounts receivable | 8,000 |
| Decrease in inventory | 25,000 |
| Increase in accounts payable | 10,000 |
| Net cash flows from operating activities | $163,000 |
Note: Webster Corporation reported revenues from customers of $150,000 in its 2002 income statement.
Required:
a. What amount of cash did Webster receive from customers during the year ended December 31, 2002?
b. Did depreciation expense provide cash inflow? Comment.
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