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 Income Statement Sales Revenue Expenses: $2,060 Cost of Goods Sold Depreciation Expense Salaries and Wages Expense Rent Expense Insurance Expense Interest Expense Utilities Expense 900 200 500 250 80 60 50 $ 20 Net Income Selected Balance Sheet Accounts Current Year Prior Year Inventory Accounts Receivable Accounts Payable Salaries/Wages Payable Utilities Payable Prepaid Rent Prepaid Insurance 82 380 200 29 20 2 14 60 450 210 20 60 10 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.)