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 $ 569,000 365,600 203,400 130,500 53,000 19,900 11,100 $ 8,800 MOSS COMPANY Selected Balance Sheet Information At December 31 Current assets Cash Accounts receivable Inventory Current liabilities Accounts payable Income taxes payable 2021 2020 $ 93,150 $ 35,300 33,500 49,000 68,500 55,800 47,400 34,200 2,900 3,900 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: Net income 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 $ 53,000 53,000 $ 53,000