Use the following information to determine this company's cash flows from operating activities using the indirectmethod. LOLLAND

Use the following information to determine this company's cash flows from operating activities using the indirectmethod.

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LOLLAND COMPANY Selected Balance Sheet Information December 31, 2009 and 2008 2009 2008 Current assets Cash....$169,300 53,600 Accounts recelvable Inventory.._... 120,000 108,200 50,000 64,000 Current llablities Accounts payable 60,800 51.400 Income taxes payable 4,100 4.400 LOLLAND COMPANY Income Statement For Year Ended December 31, 2009 Sales. Cost of goods sold Gross profit Operating expenses $1,030,000 663,200 366,800 Depreciation expense Other expenses243.000 72,000 Income before taxes Income taxes expense Net Income. 315.000 51,800 15.400 $ 36.400