1 GS 16-6 Indirect: Computing cash from operations LO P2 2:16 oints Shipped 2019 MOSS COMPANY Selected Balance Sheet Information December 31, 2019 and 2018 2018 Current assets $88,150 $35,30 Accounts receivable 28.500 39,000 Inventory 63,500 54,800 Current liabilities Accounts payable 37,400 29,200 Income taxes payable 2,400 2,900 Cash Bock Hint Print References MOSS COMPANY Income Statement Tor Year Ended December 31, 2019 Sales $550,000 Cost of goods sold 345,500 Cross profit 204.400 Operating expenses Depreciation expense 543,000 other expenses 125,500 168,500 Income before taxes 35,900 Income taxes expense 12,900 Net Income $23.000 Use the information above to calculate cash flows from operating activities using the indirect method (Amour should be indicated by a minus sign) G Proy 1 of 12 15 Next > MacBook Pro 20 DO 000 F4 ** FS F6 80 DU FB # $ 3 % 1 2 3 4 ( 5 6 & 7 8 02 o 147 16: Problem Solving Saved He 1 $550,000 345,600 204,400 Sales cost of goods sold Gross profit Operating expenses Depreciation expense Other expenses Income before taxes Income taxes expense Net Income $ 43,000 125,500 168,500 35,900 12.900 $ 23,000 oped Book Use the information above to calculate cash flows from operating activities using the indirect method (Amounts to be deducted should be indicated by a minus sign.) Cash flows from operating activities rences Adjustments to reconcile net income to operating cash flow o $ 0 Prey 1 of 12 13 Next > A MacBook Pro so F3 DOO doo DI 48 F1 F2 FS FO F2 7 n c