Net Cash Flow from Operating Activities (Indirect Method) Lincoln Company owns no plant assets and reported the following income statement for the current year. Sales $ 800,000 Cost of goods sold $ 470,000 Wages expense 110,000 Rent expense 42,000 Insurance expense 15,000 637,000 Net income $ 163,000 Additional balance sheet information about the company follows. Accounts receivable Inventory End of Year Beginning of Year $ 52,000 $ 49,000 60,000 61,000 9,000 7,000 22,000 19,000 8,000 11,000 Prepaid insurance Accounts payable Wages payable Use the information to calculate the net cash flow from operating activities under the indirect method. Use negative signs with answers to show a decrease in cash. Net income Add(Deduct) Items to Convert Net Income to Cash Basis Accounts Receivable Inventory Prepaid Insurance Accounts Payable Wages Payable Net Cash Provided by Operating Activities