MOSS COMPANY Selected Balance Sheet Information December 31, 2019 and 2018 Current assets Cash Accounts receivable Inventory Current liabilities Accounts payable Income taxes payable 2019 2018 $89,150 $31,300 29,500 41,000 64,500 55,000 39,400 2,500 30,200 3,100 MOSS COMPANY Income Statement For Year Ended December 31, 2019 Sales $560,000 Cost of goods sold Gross profit 349,600 210,400 Operating expenses Depreciation expense Other expenses $ 45,000 126,500 171,500 Income before taxes 38,900 Income taxes expense Net income 14,300 $ 24,600 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.) 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 operating cash flow Accounts payable decrease Accounts payable increase Accounts receivable decrease Accounts receivable increase Depreciation Income taxes payable decrease