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 Sales revenue 5975.000 Cost of goods sold 5611,000 Wages expense 143.000 Rent expense 54.600 Insurance expense 19.500 828,100 Net income 5146,900 Additional information about the company includes: End of Year Beginning of Year Accounts receivable $70.200 563.700 Inventory 78.000 85.000 Prepaid insurance 10,400 9.100 Accounts payable 28.600 23,400 Wages payable 11.700 14.300 0 Hint: Remember to enter cash outflow answers (transactions that reduce cash) and expenses COGS and Wages) as negative numbers Sales Reren 5 Accounts Receivable increase 0 n Theme2021 The Red Support Accounts payable Wages payable 28,600 11.700 23.400 14,300 Hint: Remember to enter cash outflow answers (transactions that reduce cash) and expenses (COGS and wages) as negative numbers. Sales Revenue 5 0 Accounts Receivable Increase 0 Cash Received from Customers $ 0 Cost of Goods Sold 5 0 Inventory Decrease 0 Accounts Payable Increase 0 Cash Paid for Merchandise Purchased 5 0 Wages Expense 5 0 Wages Payable Decrease 0 Cash Paid to Employees $ 0 Insurance Expense $ 0 Prepaid Insurance Increase 0 Cash Paid for Insurance 5 0 Cash Flow from Operating Activities Cash Received from Customers $ Cash Pald for Merchandise Purchased Cash Paid to Employees Cash Pald for Rent Cash Paid for insurance Cash Provided by Operating Activities