The Lincoln Company owns no plant assets and had the following income statement for the year:

Sales revenue		$825,000
Cost of goods sold	$517,000
Wages expense	121,000
Rent expense	46,200
Insurance expense	16,500	770,770
Net income		$59,653

Additional information about the company includes:

	End of Year	Beginning of Year
Accounts receivable	$59,400	$53,900
Inventory	66,000	72,600
Prepaid insurance	8,800	7,700
Accounts payable	24,200	19,800
Wages payable	9,900	12,100

Use the preceding information to calculate the cash flow from operating activities using the indirect method.

Use negative signs with cash outflow answers.

Cash Flow from Operating Activities
	Net Income		$Answer
	Add (deduct) items to convert net income to cash basis
	Accounts Receivable	AnswerIncreaseDecrease	Answer
	Inventory	AnswerIncreaseDecrease	Answer
	Prepaid Insurance	AnswerIncreaseDecrease	Answer
	Accounts Payable	AnswerIncreaseDecrease	Answer
	Wages Payable	AnswerIncreaseDecrease	Answer
	Cash Provided by Operating Activities