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 annual income statement showed depreciation expense of $12,000, a gain on sale of investments of $13,500, and net income of $67,500. Ending Beginning Module Cash Accounts receivable Inventory $28,500 66,000 $13,500 52,500 82,500 73,500 Prepaid rent 9,000 12,000 Long-term investments 31,500 51,000 Plant assets 225,000 159,000 Accumulated depreciation 60,000 48,000 Accounts payable 36,000 30,000 Income tax payable 6,000 9,000 Common stock 181,500 138,000 159,000 136,500 Retained earnings Calculate the net cash flow from operating activities using the indirect method. Note: Use negative signs with answers that reduce cash provided by operating activities. Net cash flow from operating activities Current Year = $ Add (deduct) items to convert net income to cash basis Change in operating assets: Change in operating liabilities: = $