QueNERE Presented below is the income statement of Angela, Inc.: Sales revenue Cost of goods sold Gross profit Operating expenses Income before income taxes Income taxes Net income $384,500 227,500 $157,000 90,100 66,900 23,100 $ 43,800 In addition, the following information related to net changes in working capital is presented: Debit Credit Cash $11,100 Accounts receivable 25,700 Inventories $19,600 Salaries payable (operating expenses) 8,000 Accounts payable 14,300 Income taxes payable 2,500 The company also indicates that depreciation expense for the year was $16,700 and that the deferred tax liability account increased $2,600. the net cash flow from operating activities by using the indirect method that would be shown on a Prepare a schedule computing the net cash flow from operating activites y Sie uit. Hull decrease cash flow with either a sign e.g. - 10,000 or in parenthesis e.. (10,000).) Angela, Inc. Statement of Cash Flows (Partial) (Indirect Method) Cash Flows from Operating Activities 43800 Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 16700 Increase in Trade Accounts Receivable 25700 Decrease in Inventories 19600 Decrease in Salaries Payable 8000 Increase in Trade Accounts Payable 14300 Decrease in Income Taxes Payable 2500 Increase in Deferred Tax Liability 2600 11:00 PM / Remaining Net Cash Provided by Operating Activities Prepare a schedule computing the net cash flow from operating activities by using the direct method that would be shown on a statement of cash flows. Angela, Inc. Statement of Cash Flows (Partial) Direct Method Cash Flows from Operating Activities Cash Received from Customers Cash Paid to Suppliers Net Cash Provided by Operating Activities