Cash Flow from Operating Activities (Indirect Method) The Smithfield Company owns no plant assets and had the following income statement for the year. Sales revenue 52,300,000 Cost of goods sold 51.540,000 Wages expense 420,000 Rent expense 124.000 Utilities expense 90,000 2,174,000 Net income $126,000 Additional information about the company includes: End of Beginning Year of Year Accounts receivable $148,000 $98.000 Inventory 140,000 172.000 Prepaid rent 10.000 14,000 Accounts payable 52.000 56.000 Wages payable 74.000 26,000 Use the preceding information to calculate the cash flow from operating activities using the indirect method. $ 0