Operating Cash Flows (Direct Method) Lincoln Company owns no plant assets and reported the following income statement for the current year:

Sales		$ 780,000
Cost of goods sold	$ 430,000
Wages expense	90,000
Rent expense	38,000
Insurance expense	14,000	572,000
Net income		$ 208,000

Additional balance sheet information about the company follows:

	End of Year	Beginning of Year
Accounts receivable	$ 53,000	$ 49,000
Inventory	60,000	65,000
Prepaid insurance	8,000	7,000
Accounts payable	20,000	18,000
Wages payable	9,000	10,000

Calculate the net cash flow from operating activities using the direct method. Show a related cash flow for each revenue and expense.

Use negative signs in answers below to indicate a decrease in cash.

Sales	$Answer
Accounts Receivable	Answer
Cash Received from Customers	$Answer

Cost of Goods Sold	$ Answer
Inventory	Answer
Accounts Payable	Answer
Cash Paid for Merchandise Purchased	$ Answer

Wages Expense	$Answer
Wages Payable	Answer
Cash Paid to Employees	$Answer

Insurance Expense	$Answer
Prepaid Insurance	Answer
Cash Paid for Insurance	$Answer

Do not use negative signs for this portion of the problem.

Operating Activities
Cash Received from Customers		$Answer
Cash Paid for Merchandise Purchased	$Answer
Cash Paid to Employees	Answer
Cash Paid for Rent	Answer
Cash Paid for Insurance	Answer	Answer
Net Cash Provided by Operating Activities		$Answer