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 $1,425,000 Cost of goods sold $1,005,000 Wages expense 315,000 Rent expense 63,000 Utilities expense 22,500 1,405,500 Net income $19,500 Additional information about the company includes: End of Beginning of Year Year Accounts receivable $96,000 $88,500 Inventory 90,000 129,000 Prepaid rent 12,000 10,500 Accounts payable 33,000 42,000 Wages payable 13,500 9,000 $ 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 Add (deduct) items to convert net income to cash basis Accounts Receivable Inventory Prepaid Rent Accounts Payable Wages Payable Cash Provided by Operating Activities $