Incredible Industries began 2021 with its accounts receivable, inventory, and prepaid expenses totaling $45,000 and its total current liabilities totaling $20,000. At the end of the year, these same curren assets totaled $44,000, while its total current liabilities totaled $32,000. Net income for the year was $88,000. Included in net income were a $2,000 gain on the sale of land and depreciation expense of $4,000. Show how Incredible should report cash flows from operating activities for 2021. The company uses the indirect method. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Cash flows from operating activities:

assets totaled $44,000, while its total current liabiles totalod $32.000. Net income for the year was $65.000 included in net income were a $2.000 gan on ithe sale of land and depreciaton expense o $4,000. decrease in cash) Cash fows from eperating activities: Incredble induatries began 2021 with its accounts receivable, invemtory, and peepaid expenses botaling $45,000 and its total current liabibles totaling $20,000, At the end of the yeas, these same current assets totaled $44,000, while is lotal current liabilites totaled $32,000. Net income for the year was $30,000. Included in net income weee a $2,000 gain on the sale of land and depreciasion expense of $4,000. Show how incredble should report cash flows from operating activies for 2021. The company uses the indirect method. (Use parentheses or a minus sign for numbers bo be subtractod and for a net decrease in cash.)