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Lala land Company has the following financial information: Time left 0:33:04 Balance Sheets Dec. 31, 2020 Dec. 31, 2021 Cash 152,400 139,500 Accounts receivable 33,200
Lala land Company has the following financial information: Time left 0:33:04 Balance Sheets Dec. 31, 2020 Dec. 31, 2021 Cash 152,400 139,500 Accounts receivable 33,200 35,000 Inventory 200,600 175,500 Prepaid Expenses 22.000 25,000 300,000 420,000 250,000 205,000 Long term Investments Plant, Property and Equipment (net) Accounts payable Short term notes payable Taxes payable 98,600 105,000 62,000 40,000 85,600 13,500 Long term liabilities 134,000 140,000 Stockholders' Equity 628,000 701 500 Income statement Sales revenue $570,000 Cost of goods sold Gross profit 300,000 $ 270,000 Depreciation Expense Other operating costs 13,000 156,500 Loss on sale of plant assets 2,000 Net Income for the year $ 98,500 Required: Calculate the cash flow from operating activities, for the year ended December 31, 2021, using the Indirect method. IN
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