QS 12-6 (Algo) Indirect: Computing cash from operations LO P2

MOSS COMPANY
Income Statement
For Year Ended December 31, 2021
Sales	$ 550,000
Cost of goods sold	345,600
Gross profit	204,400
Operating expenses (excluding depreciation)	125,500
Depreciation expense	43,000
Income before taxes	35,900
Income taxes expense	12,900
Net income	$ 23,000

MOSS COMPANY
Selected Balance Sheet Information
At December 31	2021	2020
Current assets
Cash	$ 88,150	$ 30,300
Accounts receivable	28,500	39,000
Inventory	63,500	54,800
Current liabilities
Accounts payable	37,400	29,200
Income taxes payable	2,400	2,900

Use the information above to calculate cash flows from operating activities using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)