Exercise 16-3 (Algo) Indirect: Reporting cash flows from operations LO P2 Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Revenues $ 105, 000 Accounts receivable decrease $ 26, 000 Expenses : Purchased a machine for cash 23, 000 Salaries expense 69, 000 Salaries payable increase 23 , 000 Utilities expense 31 , 000 Interest payable decrease 15, 000 Depreciation expense 32, 800 Interest expense 6, 700 Net loss $ (34,500) Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (partial) Cash flows from operating activities-indirect method Net income Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense Changes in current operating assets and liabilities