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Following are the income statement and some additional information for Carolina Consulting Company. Carolina Consulting Company Income Statement For the Year Ended December 31, 2618

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Following are the income statement and some additional information for Carolina Consulting Company. Carolina Consulting Company Income Statement For the Year Ended December 31, 2618 Net sales $16,530 Cost of goods sold 2,360; Gross margin 13,?30 Operating expenses $ 3,360 Depreciation expense 1,556 4,356; Income be'Fore taxes 8,356 Income taxes 2,930; Net income $ 5,956 All sales were on credit and accounts receivable decreased by $1,030 in 2018 compared to 2017'. Merchandise purchases were on credit with a decrease in accounts payable of $830 during the year. Ending inventory was $630 larger than beginning inventory. Income taxes payable increased $430 during the year. All operating expenses were paid for in cash. Required: Prepare the cash ows from operating activities section of the statement of cash flows using the direct method. [Amounts to be deducted should be indicated with a minus sign

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