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LO3 P4-45. Reconciling and Computing Operating Cash Flows from Net Income Petroni Company reports the following selected results for its calendar year 2016. ........... :

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LO3 P4-45. Reconciling and Computing Operating Cash Flows from Net Income Petroni Company reports the following selected results for its calendar year 2016. ........... : : .................................. :: Net income..... Depreciation expense. ........... Gain on sale of assets ........... Accounts receivable increase. ... Accounts payable increase ....... Prepaid expenses decrease...... Wages payable decrease. ....... : : : : : $135,000 25,000 5,000 10,000 6,000 3,000 4,000 REQUIRED Prepare the operating section only of Petroni Company's statement of cash flows for 2016 under the indirect method of reporting

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