Calculating Net Cash Flow from Operating Activities (Indirect Method)

Lincoln Company owns no plant assets and reported the following income statement for the current year:

Sales		$780,000
Cost of Goods Sold	$470,000
Wages Expense	110,000
Rent Expense	42,000
Insurance Expense	15,000	637,000
Net Income		$143,000

Additional balance sheet information about the company follows:

	End of Year	Beginning of Year
Accounts Receivable	$54,000	$49,000
Inventory	60,000	66,000
Prepaid Insurance	8,000	7,000
Accounts Payable	22,000	18,000
Wages Payable	9,000	11,000

Use the information to

a.	Calculate the net cash flow from operating activities under the indirect method.
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