MOSS COMPANY Selected Balance Sheet Information December 31, 2019 and 2018 2019 2018 Current assets Cash $85,650 $27,800 Accounts receivable 26,000 34,000 Inventory 61,000 54,300 Current liabilities Accounts payable 32,400 26,700 Income taxes payable 2,150 2,400 MOSS COMPANY Income Statement For Year Ended December 31, 2019 Sales $525,000 Cont of goods sold 335,600 Gross profit 189,400 Operating expenses Depreciation expense $ 38,000 other expenses 12),000 161,000 Income before taxes 28,400 Income taxes expense 2.500 Net Income $ 10,900 5 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