MOSS COMPANY Selected Balance Sheet Information At December 31 2020 2019 Current assets Cash $88,150 $30,300 Accounts receivable 28,500 39,000 Inventory 63,500 54,800 Current liabilities Accounts payable 37,400 29, 200 Income taxes payable 2,400 2,900 MOSS COMPANY Income Statement For Year Ended December 31, 2020 Sales $550,000 Cost of goods sold 345,600 Gross profit 204,400 Operating expenses 125,500 (excluding depreciation) Depreciation expense 43,000 Income before taxes 35,900 Income taxes expense 12,900 Net income $ 23,000 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.) Cash flows from operating activities: Adjustments to reconcile net income to not cash provided by operating activities 0 5 0 Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Revenues $120, eee Accounts receivable decrease $24,000 Expenses: Purchased a machine for cash 18,000 Salaries expense 74,000 Salaries payable increase 23,880 Utilities expense 33,000 Interest payable decrease 15,000 Depreciation expense 29,800 Interest expense 9,000 Net loss S(25,820) Prepare the operating activities section of the statement of cash flows using the Indirect method. (Amounts to be deducted should be Indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current assets and liabilities