CP12-2 Computing Cash Flows from Operating Activities (Indirect Method) (LO 12-2] Hamburger Heaven's income statement for the current year and selected balance sheet data for the current and prior years ended December 31 are presented below. $2,160 Income Statement Sales Revenue Expenses: Cost of Goods Sold Depreciation Expense Salaries and Wages Expense Rent Expense Insurance Expense Interest Expense Utilities Expense Net Income 920 220 520 270 82 62 52 $ 34 Selected Balance Sheet Accounts Current Year Inventory $ 86 Accounts Receivable 390 Accounts Payable 210 Salaries/Wages Payable 33 Utilities Payable 22 Prepaid Rent 4 Prepaid Insurance 13 Prior Year $ 62 470 230 22 64 11 6 TIP: Prepaid Rent decreased because the amount taken out of Prepaid Rent (and subtracted from net income as Rent Expense) was more than the amount paid for rent in cash during the current year. Required: Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) HAMBURGER HEAVEN Statement of Cash Flows (Partial) For the Year Ended December 31 Cash Flows from Operating Activities: Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Total Adjustments