os 12-4 Indirect: Computing cash from operations LO P2 MOSS COMPANY Selected Balance Sheet Information December 31, 2017 and 2016 2017 2016 Current assets Cash Accounts receivable Inventory $84, 650 25, 000 60,900 $26, 800 32, 000 54, 100 Current liabilities Accounts payable Income taxes payable 30, 400 2, 050 25,700 2, 200 MOSS COMPANY Incone Statement For Year Ended Decenber 31, 2017 Sales Cost of goods soled Gross profit Operating expenses $515, 000 331,600 183, 400 Depreciation expense 36,000 TnCone before taxe 1017,0 Other expenses Income before taxes Income taxes expense Net income 25, 900 7, 700 $ 18, 200 Use the information above to calculate this company's cash flows from operating activities using the indirect method. (Amounts to be deducted should be Indicated by a minus sign.) Help Uperating expenses Depreciation expense s 36,600 Other expenses Income before taxes Income taxes expense Net income 121,500 157,500 25,900 7,700 s 18, 200 direct method. (Amounts to be Use the information above to calculate this company's cash flows from operating activities using the in deducted should be Indicated by a minus sign.) Cash flows from operating activities: 18.200 income Adjustments to reconcile net income to operating cash flow $ 4,700 Accounts payable increase Inventory increase 5,900 10,600 28,800