MOSS COMPANY Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income $ 554,000 359,600 194,400 129,000 50,000 15,400 8,800 $ 6,600 MOSS COMPANY Selected Balance Sheet Information At December 31 2021 2020 Current assets Cash $ 91,650 $ 33,800 Accounts receivable 32,000 46,000 Inventory 67,000 55,500 Current liabilities Accounts payable 44,400 32,700 Income taxes payable 2,750 3,600 Use the information above to calculate cash flows from operating activities using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) $ 6,600 $ 50,000 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation Changes in current operating assets and liabilities Accounts payable increase Accounts receivable decrease Income taxes payable decrease Inventory increase 50.000 56,600 $ Net cash provided by operating activities