5) Metro Ltd.'s Year 2 financial statements showed the following: 5) $1,008,000 $510,000 84,000 Sales Cost of goods sold Depreciation expense Other cash expenses Income taxes Gain from sale of equipment Net income 262,800 262 46,800 ro (903,600) 7,200 $ 111,600 O Cash Accounts receivable Inventory Equipment Less accumulated depreciation Total December 31 Year 2 Year 1 $ 44,400 $ 20,400 42,000 66,000 204,000 192,000 480,000 444,000 (216,000) (192,000 $554,400 $530,400 Accounts payable Income taxes payable Common shares Retained earnings Total $ 49,200 4,800 252,000 248,400 $554,400 $ 39,600 10,800 252,000 228,000 $530,400 Determine the Year 2 cash flows from operating activities using the indirect method. Cash Accounts receivable Inventory Equipment Less accumulated depreciation Total December 31 Year 2 Year 1 $ 44,400 $ 20,400 42,000 66,000 204,000 192,000 480,000 444,000 (216,000) (192,000) $554,400 $530,400 Accounts payable Income taxes payable Common shares Retained earnings Total $ 49,200 4,800 252,000 248.400 $554,400 $ 39,600 10,800 252,000 228.000 $530,400 Determine the Year 2 cash flows from operating activities using the indirect method