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 $1,520,000 Cost of goods sold $1,072,000 Wages expense 336,000 Rent expense 67,200 Utilities expense 24,000 1,499,200 Net income $20,800 Additional information about the company includes: End of Year Beginning of Year Accounts receivable $102,400 $94,400 Inventory 96,000 137,600 Prepaid rent 12,800 11,200 Accounts payable 35,200 44,800 Wages payable 14,400 9,600 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 0 Add (deduct) items to convert net income to cash basis Accounts Receivable Answer Answer 0 Inventory Answer Answer 0 Prepaid Rent Answer Answer 0 Accounts Payable Answer Answer 0 Wages Payable Answer Answer 0 Cash Provided by Operating Activities $Answer 0