CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income Required: $ 512,300 329,700 182,600 93,500 39,400 49,700 18,100 $ 31,600 Use the indirect method to prepare the operating activities section of Cruz's statement of cash flows. Note: Amounts to be deducted should be indicated with a minus sign. Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities $ 31,600 Income statement items not affecting cash Depreciation Changes in current operating assets and liabilities Accounts receivable decrease Inventory decrease Prepaid expense increase Accounts payable decrease Wages payable increase Income taxes payable decrease Net cash provided by operating activities $ 49.400 10,200 10,100 1,100 (6,300) (4.400) 1,300 51,400 $ 83,000