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 $ 530,000 337,600 192,400 123,500 39,000 29,900 9,900 $ 20,000 MOSS COMPANY Selected Balance Sheet Information At December 31 Current assets Cash Accounts receivable Inventory Current liabilities 2021 2020 $ 86,150 26,500 $ 28,300 35,000 61,500 54,400 27,200 2,500 Accounts payable Income taxes payable 33,400 2,200 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 $ 39,000 $ 20,000 $ 39,000 59,000