3 Exercise 16-3 (Algo) Indirect: Reporting cash flows from operations LO P2 4.76 points Arundel Company disclosed the following information for its recent calendar year. $ 100,000 Income Statement Data Revenues Expenses : Salaries expense Utilities expense Depreciation expense Interest expense Net loss Selected Year-End Balance Sheet Data Accounts receivable decrease Purchased a machine for cash Salaries payable increase Interest payable decrease $ 25,000 20,000 25,000 15,000 eBook 68,000 28,000 32,600 7,200 $ (35,800) Hint Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Print References $ 35,800 Statement of Cash Flows (partial) Cash flows from operating activitiesindirect method Net loss Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Accounts receivable decrease Changes in current operating assets and liabilities Salaries payable increase 25,000 25,000 Net cash provided by operating activities $ 85,800