Brief Exercise 17-04 Your answer is partially correct. Try again. Telfer, Inc. reported net income of $2.8 million in 2020. Depreciation for the year was $163,900, accounts receivable decreased $338,000, and accounts payable decreased $305,700. Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Telfer, Inc. Statement of Cash Flows-Indirect Approach For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income 2,800,000 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Accounts Receivable Decrease Accounts Payable Decrease Depreciation Expense 338,000 $ 338000 163,900 Net Cash Provided by Operating Activities Click if you would like to Show Work for this question: Open Show Work