Use the following income statement and information about selected current assets and current liabilities to calculate the net cash provided or used by operating activities under the indirect method. Sales Cost of goods sold Gross profit Operating expenses Wages expense Income Statement For Year Ended December 31, Year 2 Depreciation expense Rent expense Interest expense Loss on sale of land Net income $ 25,800 7,800 8,000 2,700 $ 204,000 108,000 $ 96,000 Balance 44,300 $ 51,700 4,300 $ 47,400 Selected beginning and ending balances of current asset and current liability accounts, all of which relate to operatin activities, follow.

Use the following income statement and information about selected current assets and current liabilities to calculate the net cash provided or used by operating activities under the indirect method. Selected beginning and ending balances of current asset and current liability accounts, all of which relate to operatin activities, follow. Selected beginning and ending balances of current asset and current liability accounts, all of which relate to operatin activities, follow. Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current assets and current liabilities