Net Cash Flow from Operating Activities (Indirect Method) The following information was obtained from Galena Companys comparative balance sheets. Assume Galena Companys 2020 income statement showed depreciation expense of $7,200, a gain on sale of investments of $8,800, and a net income of $32,000.

	May 31, 2020	May 31,2019
Cash	$15,200	$8,000
Accounts receivable	36,000	28,000
Inventory	44,000	39,200
Prepaid rent	4,800	5,600
Long-term investments	16,000	27,200
PPE	120,000	84,800
Accumulated depreciation	33,600	26,400
Accounts payable	20,000	16,000
Income tax payable	3,200	4,800
Common stock	96,800	73,600
Retained earnings	84,800	72,800

Calculate the net cash flow from operating activities using the indirect method. $Answer

AnswerNet cash provided by operating activitiesNet cash used by operating activities