Prepare the Operating Activities section of the Statement of Cash Flows of XYZ Co. using the indirect method. Net Income is $4,380

BB Assets Cash + Inventory + A/R 0 0 0 (T1) 1000 F (T2) 2000 F (T3) (T4) -1000 O 1000 (T5a) 5000 (T5b) -600 (T6) 500 O -500 (T7) -1000 F (T8) (T9) -120 O (T10) (T11) 1800 I (T12) -2000 F EB 1180 Liabilities SE + PP&E + AccDepr = Int/Pay + Notes Pay + Bonds Pay + Cont Cap + RE 0 1500 (XA) 0 = 0 = 200 -500 -1500 500 = 400 4500 0 0 6080 = 0 0 0 1000 2000 1500 -1000 0 5000 Sales revenue -600 COGS -200 Interest expense -120 Interest expense -500 Depreciation expense 800 Gain from PPE Sales -2000 Dividend 200 1500 1000 1000 2380 6080 Income Statement Sales Revenue COGS 5000 -600 Gross Profit 4400 Depreciation Exp -500 Operating Income 3900 Interest Exp -320 Gain from PPE Sale 800 Income before Income Taxes 4380 Tax Expense 0 Net Income 4380