Exercise 12-3 (Algo) Indirect: Reporting cash flows from operations LO P2 Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Revenues Expenses: Salaries expense Utilities expense Depreciation expense Interest expense Net loss Selected Year-End Balance Sheet Data $ 85,000 Accounts receivable decrease Purchased a machine for cash 70,000 Salaries payable increase 32,000 Interest payable decrease 32,000 7,400 $ (56,400) $ 28,000 19,000 24,000 16,000 Prepare the operating activities section of the statement of cash flows using the Indirect method (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities--Indirect mothod Not loss Adjustments to reconcile not income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense Changes in current operating assets and liabilities Accounts receivable decrease $ 0