1b - Homework Saved QS 16.4 Indirect: Computing cash from operations LO P2 MOSS COMPANY Selected Balance Sheet Information December 31, 2017 and 2016 2017 2016 Current assets Cash $85,650 $27,800 Accounts receivabil 26,000 34.000 Inventory 61,000 54,300 Current liabilities Accounts payable 32,400 26,700 Income taxes payable 2,150 2,400 MOSS COMPANY Income Statement For Year Ended December 31, 2017 Sales $525,000 Cost of goods sold 335,600 Gross profit 189,400 Operating expenses Depreciation expense $ 38,000 Other expenses 123,000 161,000 Income before taxes 28,400 Income taxes expenso 9,500 Net income $18.900 Use the information above to calculate this company's cash flows from operating activities using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) $ 38,000 123,000 Operating expenses Depreciation expense other expenses Income before taxes Income taxes expense Net Income 161,000 28,400 9.500 $ 18,900 Use the information above to calculate this company's cash flows from operating activities using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) 18.900 Cash flows from operating activities: Net income Adjustments to reconcile net income to operating cash flow Depreciation Accounts receivable decrease $ 38,000 Inventory increase Accounts payable increase Income taxes payable increase 138,000 56,900 Net cash provided by operating activities