t nt ences Jewelry Suppliers reports net income of $148,000. Included in net income is a gain on the sale of land of $11,500. A comparison of this year's and last year's balance sheets reveals an increase in accounts receivable of $18,000, an increase in inventory of $11,500, and a decrease in accounts payable of $38,000. Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) JEWELRY SUPPLIERS Statement of Cash Flows (partial) Cash flows from operating activities: $ 148,000 Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities (8,500) $ 139,500