Question 3 Presented below is the income statement of Angela, Inc.: Sales revenue $384,500 Cost of goods sold 227,500 Gross profit $157,000 Operating expenses 90,100 Income before income taxes 66,900 Income taxes 23,100 Net income $ 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 incre Prepare a schedule computing the net cash flow from operating activities by using the indirect method that would be shown on flows. (Show amounts that decrease cash flow with either a - sign e.g. -10,000 or in parenthesis e.g. (10,000).) Angela, Inc. Statement of Cash Flows (Partial Angela, Inc. Statement of Cash Flows (Partial) (Indirect Method) Adjustments to reconcile net income to Prepare a schedule computing the net cash flow from operating activities by using the direct method that would be shown on a Angela, Inc. Statement of Cash Flows (Partial) Direct Method