Exercise 16-3 (Algo) Indirect: Reporting cash flows from operations LO P2 Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Revenues $ 115,000 Expenses: Selected Year-End Balance Sheet Data Accounts receivable decrease Purchased a machine for cash $ 25,000 19,000 Salaries expense 69,000 Salaries payable increase 25,000 Utilities expense 31,000 Interest payable decrease 14,000 Depreciation expense 31,200 Interest expense 7,000 Net loss (23,200) 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 $ 0