Sales MOSS COMPANY Income Statement For Year Ended December 31, 2021 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income $ 550,000 345,600 204,400 125,500 43,000 35,900 12,900 $ 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 63,500 54,800 Current liabilities 37,400 2,400 29,200 2,900 Inventory Accounts payable Income taxes payable Use the information above to calculate cash flows from operating activities using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign. Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation Changes in current operating assets and liabilities Accounts receivable decrease $ 43,000 $ 23,000 43,000 $ 66,000