E DLL Be My SUUS 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 $1,050,000 Cost of goods sold $658,000 Wages expense 154,000 Rent expense 58,800 Insurance expense 21,000 891 800 Net income $ 158,200 Additional information about the company includes: Accounts receivable Inventory Prepaid insurance Accounts payable Wages payable End of Year Beginning of Year $75,600 $68,600 84,000 92,400 11,200 9,800 30,800 25,200 12,600 15,400 e 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 e $