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 Expenses: Salaries expense Utilities expense Depreciation expense Interest expense Net loss $ 85,000 Accounts receivable decrease Selected Year-End Balance Sheet Data $ 23,000 70,000 31,000 29,200 8,500 Purchased a machine for cash Salaries payable increase 20,000 26,000 Interest payable decrease 16,000 $ (53,700) Prepare the operating activities section of the statement of cash flows using the indirect method. (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