#3 (CH 9-12) - Part II Sales MOSS COMPANY Income Statement Saved Help Save & Exit Submit For Year Ended December 31, 2021 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense $ 550,000 345,600 204,400 125,500 43,000 35,900 12,900 $ 23,000 01:41:53 Net income pped MOSS COMPANY Selected Balance Sheet Information At December 31 Current assets Cash Accounts receivable Inventory Current liabilities Accounts payable Income taxes payable 2021 2020 $ 88,150 28,500 $ 30,300 39,000 63,500 54,800 37,400 29,200 2,400 2,900 Use the information above to calculate cash flows from operating activities using the indirect nethod. (Amounts to be deducted should be indicated by a minus sign.) Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities $ 23,0 Income statement items not affecting cash Depreciation Changes in current operating assets and liabilities Accounts receivable decrease Inventory increase Accounts payable increase Income taxes payable decrease Net cash provided by operating activities $ 43,000 12,900 55,9 $ 78,9