Question 1 Not yet answered Marked out of 1.00 P Flag question Cash Flow from Operating Activities (Indirect Method) The Lincoln Company owns no plant assets and had the following income statement for the year: $1,350,000 Sales revenue Cost of goods sold Wages expense Rent expense Insurance expense Net income $846,000 198,000 75,600 27,000 1,146,600 $203,400 Additional information about the company includes: Accounts receivable Inventory Prepaid Insurance Accounts payable Wages payable End of Year Beginning of Year $97,200 $88.200 108,000 118,800 14,400 12,600 39,600 32,400 16,200 19,800 Use the preceding information to calculate the cash flow from operating activities using the Indirect method. Use negative signs with cash outflow answers. Cash Flow from Operating Activities Net Income Add (deduct) items to convert net income to cash basis Accounts Receivable Inventory Prepaid Insurance Accounts Payable Wages Payable Cash Provided by Operating Activities