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Lala land Company has the following financial information: Balance Sheets Dec. 31, 2020 Dec. 31, 2021 Cash 152,400 134,500 Accounts receivable 33,200 35,000 Inventory 200,600

Lala land Company has the following financial information:

Balance Sheets

Dec. 31, 2020

Dec. 31, 2021

Cash

152,400

134,500

Accounts receivable

33,200

35,000

Inventory

200,600

175,500

Prepaid Expenses

22,000

20,000

Long term Investments

300,000

420,000

Plant, Property and Equipment (net)

250,000

205,000

Accounts payable

98,600

105,000

Short term notes payable

62,000

40,000

Taxes payable

35,600

13,500

Long term liabilities

134,000

140,000

Stockholders Equity

628,000

691,500

Income statement

Sales revenue

$ 570,000

Cost of goods sold

300,000

Gross profit

$ 270,000

Depreciation Expense

13,000

Other operating costs

166,500

Loss on sale of plant assets

2,000

Net Income for the year

$ 88,500

Required: Calculate the cash flow from operating activities, for the year ended December 31, 2021, using the Indirect method.

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