norrington trading co., provides the following income statement for 2015

05-27 Name: Enter the appropriate numbers/formulas in the blue-shaded cells. Enter amounts to be deducted as negative numbers. The word \"Wrong\" will appear to the left of incorrect entries. Computation of Effects of Adjustments Sales Cost of goods sold Depreciation expense Salaries expense Interest expense Income taxes expense Other expenses Net income (a) Direct Method Operating activities: Cash collected from customers Cash paid for inventory Cash paid for salaries Cash paid for interest Cash paid for income taxes Cash paid for other expenses Net cash provided by operating activities (b) Indirect Method Operating Activities: Net Income Add: Depreciation Increase in Accounts payable Increase in income taxes payable Decrease in prepaid expenses Less: Increase in accounts receivable Increase in inventory Decrease in interest payable Net cash provided by operating activities Income Statement $675,400 (243,500) (51,000) (124,600) (11,300) (44,000) (98,700) $102,300 Adjustments Statement of Cash Flows