Cash Flow from Operating Activities (Indirect Method)

The Lincoln Company owns a plant assets and has the following income statement for the year.

The Lincoln Company owns a plant assets and has the following income statement for the year
	Sales revenue		$ 800,000
	Cost of goods sold	$ 470,000
	Wages expenses	$ 120,000
	rent expenses	$ 42,000
	insurance expenses	$ 15,000
			$ 647,000
	Net income		$ 153,000
Additional information about the company includes:
		End of Year	Beginning of year
	Accounts receivable	54,000	49,000
	Inventory	60,000	76,000
	Prepaid Insureance	8,000	7,000
	Accounts payable	24,000	18,000
	Wages payable	9,000	11,000
Use the preceding information to calculate the cash flow from operating activities using the indirect method.