Cash Flow from Operating Activities (Indirect Method) The Lincoln Company owns no plant assets and had the following income statement for the year:

E11-4A. Cash Flow from Operating Activities (Indirect Method) The Lincoln Company owns no plant assets and had the following income statement for the year: $750,000 Sales revenue.. Cost of goods sold Wages expense Rent expense.. Insurance expense. Net income $470,000 110,000 42,000 15,000 637,000 $113,000 Additional information about the company includes: End of Beginning Year of Year Accounts receivable. $54,000 $49,000 Inventory.. 60,000 66,000 Prepaid insurance. 8,000 7,000 Accounts payable.. 22,000 18,000 Wages payable.. 9,000 11,000 Use the preceding information to calculate the cash flow from operating activities using the indi- rect method