MOSS COMPANY

Income Statement

$\backslash$table$[[,],[$Sales For Year Ended December $31,2021,$$$525,000$

es MOSS COMPANY Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income MOSS COMPANY Selected Balance Sheet Information 2021 At December 31 Current assets Cash Accounts receivable Inventory Current liabilities Accounts payable Income taxes payable $ 85,650 26,000 61,000 Cash flows from operating activities: Net income 32,400 2,150 2020 $ 525,000 335,600 Changes in current operating assets and liabilities 189,400 123,000 38,000 28,400 9,500 $ 18,900 $ 27,800 34,000 54,300 Use the information above to calculate cash flows from operating activities using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign. 26,700 2,400 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash 38,000 $ 18,300 38,000 56,300