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Sales Expenses: Cost of Goods Sold Depreciation Expense Salaries and Wages Expense Net Income Accounts Receivable Decrease Inventory Increase $ 55,000 7,000 13,000 $

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Sales Expenses: Cost of Goods Sold Depreciation Expense Salaries and Wages Expense Net Income Accounts Receivable Decrease Inventory Increase $ 55,000 7,000 13,000 $ 90,000 75,000 $ 15,000 $ 5,000 9,000 850 Salaries and Wages Payable Increase Required: Present the operating activities section of the statement of cash flows for Guy's Gear Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

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