Calculating Net Cash Flow from Operating Activities (Indirect Method) The following information was obtained from Galena Company's comparative balance sheets. Assume that Galena Company's 2018 income statement showed depreciation expense of $8,000, a gain on sale of investments of $9,000, and net income of $45,000. Cash Accounts receivable Inventory Dec. 31, 2018 Dec. 31, 2017 $19,000 $9,000 44,000 35,000 55,000 49,000 Prepaid rent 6,000 8,000 Long-term investments 21,000 34,000 Plant assets 150,000 106,000 Accumulated depreciation 40,000 32,000 Accounts payable 24,000 20,000 Income tax payable 4,000 6,000 Common stock 121,000 106,000 92,000 91,000 Retained earnings Calculate the net cash flow from operating activities using the indirect method. Instructions: Use negative signs with answers that reduce cash provided by operating activities. Enter accounts in alphabetical order, when needed. Net cash flow from operating activities Dec. 31, 2018 $ Add (deduct) items to convert net income to cash basis Depreciation Change in operating assets: Prepaid rent Change in operating liabilities: Accounts payable $ Net cash provided by operating activities Check