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 $1,330,000 Cost of goods sold $938,000 Wages expense 294,000 Rent expense 58,800 Utilities expense 21,000 1,311,800 Net income $18,200 Additional information about the company includes: End of Beginning of Year Year Accounts receivable $89,600 $82,600 Inventory 84,000 120,400 Prepaid rent 11,200 9,800 Accounts payable 30,800 39,200 Wages payable 12,600 8,400Use the preceding information to calculate the cash flow from operating activities using the indirect method. Remember to use negative signs with your 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