2 3 points Exercise 12-3 (Algo) Indirect: Reporting cash flows from operations LO P2 Arundel Company disclosed the following information for its recent calendar year. Income Statement Data 02:06:02 Revenues Expenses: Selected Year-End Balance Sheet Data $110,000 Accounts receivable decrease $ 24,000 Salaries expense 68,000 Purchased a machine for cash Salaries payable increase 22,000 28,000 Utilities expense 30,000 Interest payable decrease 16,000 Depreciation expense Interest expense 30,000 8,500 Net loss $ (26,500) Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Answer is not complete. Statement of Cash Flows (partial) Cash flows from operating activities-indirect method Net income Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities