PA12-2 (Algo) Computing Cash Flows from Operating Activities (Indirect Method) [LO 12-2] The income statement and selected balance sheet information for Direct Products Company for the year ended December 31 are presented below. Income Statement Sales Revenue $ 41,600 Expenses: Cost of Goods Sold 17,500 Depreciation Expense 1,300 Salaries and Wages Expense 8,300 Rent Expense 3,800 Insurance Expense 1,550 Interest Expense. 1,450 Utilities Expense 1,050 Net Income $ 6,650 Selected Balance Sheet Accounts Ending Balances Beginning Balances Accounts Receivable $570 $ 600 Inventory 820 685 Accounts Payable 430 480 Prepaid Rent 29 22 Prepaid Insurance 27 321 Salaries and Wages Payable. 66 43 24 17 Utilities Payable Required: Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) DIRECT PRODUCTS COMPANY Statement of Cash Flows (Partial) For the Year Ended December 31