Cash Flow from Operating Activities (Indirect Method) The Arcadia Company owns no plant assets and had the following income statement for the year: Sales revenue Cost of goods sold $640,000 Wages expense 210,000 Rent expense Utilities expense $930,000 42,000 11,000 903,000 $27,000 Net income Additional information about the company includes End of Beginning of Year Year Accounts receivable $67,000 62,000 8,000 Accounts payable 22,000 9,000 $59,000 86,000 7,000 28,000 7,000 Prepaid rent Wages payable Use the preceding information to calculate the cash flow from operating activities using the indirect InKil. Remember to use negative signs with answers when appropriate. Cash Flow from Operating Activities Net Income Add (deduct) items to convert net income to cash basis Accounts Receivable Inventory Prepaid Rent Accounts Payable Wages Payable Cash Provided by Operating Activities