Cash Flow from Operating Activities (Indirect Method) The Lincoln Company owns no plant assets and had the following income statement for the year: Sales revenue Cost of goods sold $517,000 Wages expense Rent expense Insurance expense 16,500 770,770 Net income $825,000 121,000 46,200 $59,653 Additional information about the company includes Accounts receivable Inventory Prepaid insurance Accounts payable Wages payable End of Year $59,400 66,000 8,800 24,200 9,900 Beginning of Year $53,900 72,600 7,700 19,800 12,100 Use the preceding information to calculate the cash flow from operating activities using the indirect method Use negative signs with cash outflow answers Cash Flow from Operating Activities Net Income Add (deduct) items to convert net income to cash basis Accounts Receivable Inventory Prepaid Insurance Accounts Payable Wages Payable Cash Provided by Operating Activities