Exercise 12-3 (Algo) Indirect: Reporting cash flows from operations LO P2 Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Revenues $ 85,000 Expenses: Salaries expense 73,000 Selected Year-End Balance Sheet Data Accounts receivable decrease Purchased a machine for cash. Salaries payable increase $ 29,000 21,000 29,000 Utilities expense Depreciation expense 30,000 32,800 Interest payable decrease 17,000 Interest expense 8,500 Net loss $ (59,300) Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (partial) Cash flows from operating activities-indirect method Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities