MOSS COMPANY Selected Balance Sheet Information December 31, 2019 and 2018 2019 2018 Current assets Cash $ 89,650 $31,800 Accounts receivable 30,000 42,000 Inventory 65,000 55,100 Current liabilities Accounts payable 40,400 30,700 Income taxes payable 2,550 3,200 MOSS COMPANY Income Statement For Year Ended December 31, 2019 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 46,000 Other expenses 127,000 Income before taxes Income taxes expense Net income $ 534,000 351,600 182,400 173,000 9,400 5,900 $ 3,500 Use the information above to calculate cash flows from opera should be indicated by a minus sign.) $ 534,000 351,689 182,400 Thcome Statement For Year Ended December 31, 2019 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 46,000 Other expenses 127,000 Income before taxes Income taxes expense Net income 173,000 9,400 5,900 $ 3,500 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.) $ 3,500 Cash flows from operating activities Net incomo Adjustments to reconcile net income to operating cash flow Depreciation Accounts receivable decrease $ 46,000 46,000 49.500