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 $ 559,000 361,600 197,400 129,500 51,000 16,900 9,600 $ 7,300 MOSS COMPANY Selected Balance Sheet Information At December 31 Current assets Cash Accounts receivable Inventory Current liabilities Accounts payable Income taxes payable 2021 2020 $ 92,150 $ 34,300 32,500 47,000 67,500 55,600 45,400 33,200 2,800 3,700 Use the information above to calculate cash flows from operating activities using th should be indicated by a minus sign.) Use the information above to calculate cash flows from operating activities using the indirect method (Amounts to be deducted should be indicated by a minus sign.) Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities 4 $ 51,000