Exercise 11-8A Calculate operating activities-indirect method (LO11-3) Hardware Suppliers reports net income of $155,000. Included in net income is a gain on the sale of land of $15,000. A comparison of this year's and last year's balance sheets reveals an increase in accounts receivable of $25,000, an increase in inventory of $15,000 and a decrease in accounts payable of $45,000 Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) ook 1919 HARDWARE SUPPLIERS Statement of Cash Flows partial) Cash flows from operating activities: Adjustments to reconcile net income to nel cash flows from operating activities References Net cash fows from operating activities