Exercise 16-8 (Algo) Indirect: Inferring net income from operating cash flows LO P2 Cain Company reports net cash provided by operating activities of $32,000. 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 $ 8,800 Decrease in inventory $ 4,800 Increase in accounts receivable 3,400 Increase in prepaid expenses 2,800 Depreciation expense 5,800 Decrease in wages payable 1, Bee Determine Cain's net income. Net income