Exercise 16-8 (Algo) Indirect: Inferring net income from operating cash flows LO P2 Cain Company reports net cash provided by operating activities of $31,000. It also reports the following Information under "Adjustments to reconcile net income to net cash provided by operating activities" on its statement of cash flows (using the indirect method). Gain on sale of equipment Increase in accounts receivable Depreciation expense Determine Cain's net income. Net income $ 8,400 Decrease in inventory 3,200 Increase in prepaid expenses 5,400 Decrease in wages payable $4.400 2,400 1,400