Sales MOSS COMPANY Income Statement For Year Ended December 31, 2021 Cost of goods sold Gross...

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Sales MOSS COMPANY Income Statement For Year Ended December 31, 2021 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income MOSS COMPANY Selected Balance Sheet Information At December 31 Current assets Cash Accounts receivable Inventory Current liabilities $ 584,000 371,600 212,400 132,000 56,000 24,400 13,300 $ 11,100 2021 2020 $ 94,650 $ 36,800 35,000 52,000 70,000 56,100 50,400 35,700 3,050 4,200 Accounts payable Income taxes payable Use the information above to calculate cash flows from operating activities using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign. Book Cash flows from operating activities: -int Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities $ 56,000 56,000 $ 56,000 Sales MOSS COMPANY Income Statement For Year Ended December 31, 2021 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income MOSS COMPANY Selected Balance Sheet Information At December 31 Current assets Cash Accounts receivable Inventory Current liabilities $ 584,000 371,600 212,400 132,000 56,000 24,400 13,300 $ 11,100 2021 2020 $ 94,650 $ 36,800 35,000 52,000 70,000 56,100 50,400 35,700 3,050 4,200 Accounts payable Income taxes payable Use the information above to calculate cash flows from operating activities using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign. Book Cash flows from operating activities: -int Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities $ 56,000 56,000 $ 56,000