Cash Flow from Operating Activities (Indirect Method) The Lincoln Company owns no plant assets and had the following income statement for the year: $1,050,000 Sales revenue Cost of goods sold $658,000 Wages expense 154,000 Rent expense 58,800 Insurance expense 21,000 Net income 891,800 $158,200 Additional information about the company includes: Accounts receivable Inventory Prepaid insurance Accounts payable Wages payable End of Year Beginning of Year $75,600 $68,600 84,000 92,400 11,200 9,800 30,800 25,200 12,600 15,400 $ 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 $