Refer to E19.4. Determine the cash flows from operations using the indirect method for Wang Company.

Data from E19.4

Stara Company reveals the following information for the past fiscal period:

Use the direct format to determine the cash flows from operating activities.

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Accounts receivable Inventory Prepaid insurance Accounts payable Taxes payable Wages payable Sales Cost of goods sold Insurance expense Tax expense Wage expense Ending Balance Beginning Balance $ 45,000 $54,000 50,000 6,000 74,000 10,000 32,000 700,000 490,000 6,000 10,000 62,000 34,000 8,000 82,000 15,000 23,000