Incredible Industries began 2021 with its accounts receivable, inventory, and prepaid expenses totaling $60,000 and its...

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Incredible Industries began 2021 with its accounts receivable, inventory, and prepaid expenses totaling $60,000 and its total current liabilities totaling $35,000. At the end of the year, these same current assets totaled $48,000, while its total current liabilities totaled $31,000. Net income for the year was $82,000. Included in net income were a $4,000 gain on the sale of land and depreciation expense of $5,000. Show how Incredible should report cash flows from operating activities for 2021. The company uses the indirect method. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by (used for) operating activities: Net cash provided by (used for) operating activities Incredible Industries began 2021 with its accounts receivable, inventory, and prepaid expenses totaling $60,000 and its total current liabilities totaling $35,000. At the end of the year, these same current assets totaled $48,000, while its total current liabilities totaled $31,000. Net income for the year was $82,000. Included in net income were a $4,000 gain on the sale of land and depreciation expense of $5,000. Show how Incredible should report cash flows from operating activities for 2021. The company uses the indirect method. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by (used for) operating activities: Net cash provided by (used for) operating activities