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 $900,000 Cost of goods sold $564,000 Wages expense 132,000 Rent expense 50,400 Insurance expense 18,000 764,400 Net income $135,600 Additional information about the company includes: Accounts receivable Inventory Prepaid insurance Accounts payable Wages payable End of Year Beginning of Year $64,800 $58,800 72,000 79,200 9,600 8,400 26,400 21,600 10,800 13,200 0 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 0 0 0 0 0 $ 0 le Increase Decrease