Menu Operating Cash Flows (Direct Method) Using the information below, calculate the cash flow from operating activities using the direct method. Show a related cash flow for each revenue and expense The Lincoln Company owns no plant assets and had the following income statement for the year: $750,000 Sales revenue $470,000 110,000 42,000 Insurance expense 15,000 Cost of goods sold Wages expense Rent expense 637000 $113,000 Net income Additional information about the company includes: End of Year Inventory Prepaid insurance Accounts payable Wages payable Accounts receivable$64,800 72,000 9,600 26,400 10,800 Beginning of Year $58,800 79,200 8,400 21,600 13,200 Hint: Remember to enter cash outflow answers (transactions that reduce cash) and expenses (COGS and wages) as negative numbers. Sales Revenue