Simply Charming Inc. had the following financial information for 2013. Prepare the operating section ONLY of the statement of cash flows using the indirect method. Simply Charming Inc. Income Statement For Year Ended December 31, 2013 Revenue: Sales Revenue 173,000 Expenses: Depreciation Expense 14,225 Salaries Expense 45,000 Rent Expense 16,000 Utilities Expense 4,300 Loss on Sale of Furniture 2,200 Total Expenses 81,725 Net Income 91,275 Simply Charming Inc. Balance Sheet December 31, 2013 2013 2012 60,500 77,000 Assets: Cash Accounts Receivable Supplies Inventory Total Current Assets 4,550 3,600 65,050 80,600 2013 2012 Liabilities & Equity: 604,300 528,600 Accounts Payable 80,000 95,000 Taxes Payable 2,500 1,000 Total Current Liabilities 180,000 210,000 866,800 834,600 Common Stock Paid in capital in excess of par value, common stock 50,000 72,000 Total Paid in Capital (23,000) (20,000) 27,000 52,000 Retained Earnings 340,000 340,000 410,000 410,000 750,000 750,000 Furniture Less: Accum Depreciation Total Plant Assets 78,750 56,000 TOTAL ASSETS 893,800 886,600 TOTAL LIABILITIES AND EQUITY 893,800 886,600 Cash Flows from Operating Activities: Adjustments to reconcile net income to net cash Total Adjustment