Calibri PAGE LAYOUT 4 11 ' ' FORMULAS Use the income statement and balance sheet to prepare a statement of cash flows using the indirect method FILE HOME INSERT Prepare a statement of cash flows using the indirect method - Excel J ? DATA REVIEW VIEW Sign In % M Paste Clipboard A1 BIU Font - Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Editing 1 Required: fx Required: A B C D > E F 2 Complete the statement of cash flows (indirect method) shown below by using formulas that reference 3 data from the income statement and balance sheet (found by clicking the tabs at the bottom of this 4 worksheet. Note: Blank cells may be included in calculations. i5 6 7 8 INNOVATION ELECTRONICS, INC. Statement of Cash Flows For the Year Ended December 31, 20X2 9 Cash Flows from Operating Activities: 10 Net income 11 Adjustments to reconcile net income to net cash 12 provided by operating activities: 13 Depreciation expense 14 Gain (on sale of land) 15 Changes in current assets and current liabilities: 16 Accounts receivable 17 Inventory 18 Prepaid insurance 19 Accounts payable 20 Interest payable 21 Income tax payable 22 Net cash provided by (used in) operating activities 23 24 Cash Flows from Investing Activities: READY Attempt/c) ... Income Statement Balance Sheet Cash Flow + 100% Uint