Cash Flow from Operating Activities (Indirect Method) The Arcadia Company owns no plant assets and had the following income statement for the year: Sales revenue $1,615,000 Cost of goods sold $1,139,000 Wages expense 357,000 Rent expense 71,400 Utilities expense 25,500 1,592,900 Net income $22,100 Additional information about the company includes: End of Year Beginning of Year Accounts receivable $108,800 $100,300 Inventory 102,000 146,200 Prepaid rent 13,600 11,900 Accounts payable 37,400 47,600 Wages payable 15,300 10,200 Use the preceding information to calculate the cash flow from operating activities using the indirect method. Remember to use negative signs with your answers when appropriate. Cash Flow from Operating Activities Net Income $Answer 22,100 Add (deduct) items to convert net income to cash basis Accounts Receivable Answer Answer (8,500) Inventory Answer Answer 44,200 Prepaid Rent Answer Answer (1,700) Accounts Payable Answer Answer 0 Wages Payable Answer Answer 0 Cash Provided by Operating Activities $Answer 0