Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate Selected Balance Sheet Information December 31, 2019 and 2018 2019 2018 Current assets Cash $86,650 $28,800 Accounts receivable 27,000 36,000 Inventory 62,000 54,500 Current liabilities Accounts payable 34,400 27,700 Income taxes payable 2,250 2,600 MOSS COMPANY Income Statement For Year Ended December 31, 2019 Sales $535,000 Cont of goods sold 339,600 Gross profit 195,400 Operating expenses Depreciation expense $ 40,000 Other expenses 124,000 164,000 Income before taxes 31,400 Income taxes expense 10.600 Net Income $ 20,000 Use the information above to calculate cash flows from operating activities using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Use the information above to calculate cash flows from operating activities using the indirect method (Amounts to be dede should be indicated by a minus sign.) Answer is complete but not entirely correct. 20,800 $ Cash flows from operating activities: Net income Adjustments to reconcile net income to operating cash flow Depreciation Accounts receivable decrease Inventory increase Income taxes payable decrease Accounts payable increase Income taxes payable increase Net cash provided by operating activities 40,000 9,000 (7,500) (350) 6,700 0 47,850 68,650