Heading 5 No Spa Problem 1 (20 Points) Presented below is the income statement of Mets, Inc. Sales revenue $380,000 225.000 $155,000 Cost of goods sold Gross profit Operating expenses Income before income taxes 95,000 60,000 Income taxes 24.000 Net income $126.000 In addition, the following information related to net changes in working capital is presented: Cash increased Accounts receivable increased Inventories decreased Salaries payable (operating expenses) decreased Accounts payable increased Income taxes payable decreased $12,000 25,000 $19,400 8,000 14,000 3,000 The company also indicates that depreciation expense for the year was $16,700. Instructions Prepare a schedule computing the net cash flow from operating activities that would be shown on a statement of cash flows using the indirect method. 12