Below is an income statement for Newell Products for the year ended December 31, 2020, and a schedule listing the company’s current assets and current liabilities at the end of 2019 and 2020: 

Required 

Prepare the operating activities section of the statement of cash flows using the indirect method.

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Newell Products Income Statement For the Year Ended December 31, 2020 Sales $125,800 Cost of goods sold 52,800 Gross profit Operating expenses: Selling and general expenses Depreciation expense Operating income 73,000 $11,700 2,600 14,300 58,700 Loss on sale of land 3,600 Income before taxes 55,100 Income tax expense 11,020 Net income $ 44,080