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.

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