Cash Flows from Operating Activities-Indirect Method Staley Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Increase in accounts receivable Increase in accounts payable $268,900 50,700 22,000 24,000 11,000 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: Net income $ 268,900 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation expense Loss on disposal of equipment 50,700 22,000 Changes in current operating assets and liabilities: Increase in accounts receivable Increase in accounts payable 24,000 11,000 Net cash flow from operating activities