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

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 $750,000 Cost of goods sold $470,000 Wages expense 110,000 Rent expense 42,000 Insurance expense 15,000 637,000 Net income $113,000 Additional information about the company includes: End of Year Beginning of Year $54,000 60,000 $49,000 66.000 Accounts receivable Inventory Prepaid insurance Accounts payable Wages payable 8,000 7,000 22,000 18,000 9,000 11,000 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 . $