ABC Corporation reported a net loss of $(15,000) for the year 2020. Over the course of that year, certain balance sheet accounts changed as follows:

• Decrease in accounts receivable: $22,000
• Increase in accounts payable: $18,600
• Increase in inventory: $14,800
• Decrease in wages payable: $30,000
• Decrease in Bonds payable: $150,000
• Increase in net PP&E: $75,000

Depreciation expense was $46,000 for the year 2020. In addition, net income included a loss of $2,600 from selling land that had been held for investment purposes.

Indicate how each dollar amount on the left should be treated in preparing Cash flows from operating activities using the indirect method.

- v Depreciation v Loss from selling land Decrease in accounts receivable 1 Increase in inventory Decrease in wages payable Increase in accounts payable Decrease in Bonds payable Increase in net PP&E A. No effect B. Subtract from net income C. Add to net income