Net Cash Flow from Operating Activities (Indirect Method) Lincoln Company owns no plant assets and reported the following income statement for the current year: $ 700,000 Sales Cost of goods sold $ 425,000 110,000 38,000 Wages expense Rent expense Insurance expense Net income 15,000 588,000 $ 112,000 Additional balance sheet information about the company follows. End of Year Beginning of Year Accounts receivable $ 56,000 $48.000 Inventory 60,000 66,000 Prepaid insurance 7,000 5,000 Accounts payable 22.000 18.000 Wages payable 11,000 15,000 Use the information to calculate the net cash flow from operating activities under the indirect method. Use negative signs with answers to show a decrease in cash. $ Net income Add (Deduct) Items to Convert Net Income to Cash Basis Accounts Receivable Inventory Prepaid Insurance Accounts Payable Wages Payable Net Cash Provided by Operating Activities $