Exercise 12-3 Indirect: Reporting and interpreting cash flows from operations LO P2 Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Revenues $115,000 Expenses Salaries expense 74,000 Utilities expense 34,00 Depreciation expense 29,000 Other expenses 6,700 Net loss $(28,700) Selected Year-End Balance Sheet Data Accounts receivable decrease $27,00 Purchased a machine for cash 22,99 Salaries payable increase 26.000 Other accrued liabilities decrease 13,099 Required: 1. Prepare the operating activities section of the statement of cash flows using the indirect method. (Any losses or an deducted should be indicated with a minus sign.) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities