Pfizer Corporations 2021 Income Statement and selected statement of financial position data at December 31, 2020 and 2021, follow

PFIZER CORPORATION

Selected Statement of Financial Position

At December 31

2011

2010

Accounts Receivable

Php 380,000

Php 390,000

Inventory

99,000

88,000

Accounts Payable

120,000

130,000

Salaries Payable

44,000

35,000

Utilities Payable

11,000

8,000

Prepaid Insurance

13,000

14,000

Prepaid Rent

11,000

9,000

PFIZER CORPORATION

Income Statement

For Year Ended December 31, 2021

Sales Revenue

Php 59,600

Expenses

Cost of goods sold

22,000

Depreciation Expense

6,000

Salaries expense

11,000

Rent expense

2,500

Insurance expense

1,900

Interest expense

1,800

Utilities expense

1,400

Net Income

Php 13,000

Instruction:

Prepare the cash flows from operating activities section only of the companys 2021 statement of cash flows using the indirect method.