11. Net Cash Flow from Operating Activities Hyde Company's records for 2016 provide the following Information: a. amortization of premium on bonds payable, $600 h. gain on sale of land, $8,000 b. purchase of equipment, $6,000 i. increase in prepaid assets, $500 C. depreciation expense, $7,400 j. declaration and payment of cash dividends, d. decrease in accounts receivable, $800 $1,800 e. decrease in accounts payable, $2,800 k. increase in wages payable, $300 f. issuance of long-term note for cash, $4,200 I. patent amortization expense, $1,000 g. Increase in inventories, $7,500 m. net income, $10,800 Required: Prepare the operating activities section of the 2016 statement of cash flows for Hyde Company using the indirect method. Use a minus sign to Indicate cash outflows, a decrease in cash or cash payments. HYDE COMPANY Statement of Cash Flows (Partial) For Year Ended December 31, 2016 Operating Activities: Net income 10,800 Adjustment for noncash income items: Add: Depreciation expense 7,400 Add: Patent amortization expense 1,000 Less: Bond premium amortization 600 Less: Gain on sale of land 8,000 Adjustments for cash flow effects from working capital items: Decrease in accounts receivable 800Increase in inventories 7,500 Increase in prepaid assets 500 Decrease in accounts payable V 2,800 Increase in wages payable 300 Net cash provided by operating activities