3. Use the following income statement and information about selected current assets and current liabilities to calculate the net cash provided or used by operating activities using the indirect method. Use the template on the next page. Hint: Add back loss on sale of land. Check: Net cash provided by operating activities should be a number greater than $38,000 but less than $41,000. (5 points) National LInc. Income Statement For Year Ended December 31, 2018 Sales Cost of goods sold Gross profit from sales Operating expenses: $180,000 104.000 $76,000 Salaries and wages expense Depreciation expense Rent expense Interest expense $25,000 8,000 6,200 Income from operations Loss on sale of land Net income S34,900 Selected beginning and ending balances of current asset and current liability accounts, all of which relate to operating activities, are as follows Accounts receivable Merchandise inventory Prepaid insurance Accounts payable Salaries and wages payable Interest payable Dec. 31, 2018 $27,600 22.000 500 27,000 10,400 300 Dec. 31, 2017 $24,000 20,000 400 26,000 9,000 200