prepare a schedule of operating cash flows using the indirect method

Instructions Amount Descriptions Operating Cash Flows - Indirect Method Instructions Revenues $ 400,000 Less: Cost of goods sold: Beginning inventory $ 48,000 Purchases 182,000 Ending inventory (39,000) (191,000) Less: Patent amortization (25,000) Advertising (13,500) Depreciation expense (55,000) Wages expense (32,500) Insurance expense (10,300) Bad debt expense (6,000) Interest expense (8,000) Net income $ 58,700 A. Interest expense includes $1,600 of discount amortization. B. The prepaid insurance expense account decreased by $1,500 during the year. C. Wages payable decreased by $2,500 during the year. D. Accounts payable increased by $7,300 (this account is for purchase of merchandise only) E. Accounts receivable increased by $11,300 (net of allowance for doubtful accounts). F. Inventory decreased by $16,500. Required: Prepare a schedule of operating cash flows using the indirect method