Net Cash Flow from Operating Activities (Indirect Method) Lincoln Company owns no plant assets and reported the following income statement for the current year.

Sales		$ 800,000
Cost of goods sold	$ 470,000
Wages expense	110,000
Rent expense	42,000
Insurance expense	15,000	637,000
Net income		$ 163,000

Additional balance sheet information about the company follows.

	End of Year	Beginning of Year
Accounts receivable	$ 52,000	$ 49,000
Inventory	60,000	67,000
Prepaid insurance	13,000	7,000
Accounts payable	22,000	15,000
Wages payable	4,000	11,000

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	Answer
Add (Deduct) Items to Convert Net Income to Cash Basis
Accounts Receivable	Answer
Inventory	Answer
Prepaid Insurance	Answer
Accounts Payable	Answer
Wages Payable	Answer
Net Cash Provided by Operating Activities