ACG 201-002/003 Ch 13 - Statement of Cash Flows Problem Below are the various pieces of information necessary to assemble the Cash Flows from Operating Activities Section of a Statement of Cash Flows using the Indirect Method. Prepare this section correctly and in good form. Hutton Company prepared the tabulation below at December 31, 2019 Net Income ..... $275,000 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense, $45,000 Increase in accounts receivable, $55,000 ... Decrease in inventory, $12,000 Increase in accounts payable, $6,600 ............ Increase in prepaid expenses, $4,000 Decrease in income taxes payable, $3,500... Gain on sale of land. $5,000 Net cash provided (used) by operating activities ............. Instructions: Show how each item should be reported in the statement of cash flows. Use parentheses for deductions