E12-8 Reporting Cash Flows from Operating Activities (Indirect Method) [LO 12-2] The following information pertains to Guy's Gear Company: Sales Expenses: $47,500 Cost of Goods Sold Depreciation Expense Salaries and Wages Expense 5,500 11,500 64,500 Net Income $10,500 Accounts Receivable Decrease Inventory Increase Salaries and Wages Payable Increase $ 3,500 7,500 700 Required Present the operating activities section of the statement of cash flows for Guy's Gear Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)