PA12-2 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 $51,600 Sales Revenue Expensest 22,500 2,300 9,300 4,800 2,050 1,950 1,550 Cost of Goods Sold Depreciation Expense Salaries and Wages Expense Rent Expense Insurance Expense Interest Expense Utilities Expense s 7,150 Not Incone Selected Balance Sheet Accounts Ending Balances Beginning Balances S 610 755 490 23 34 57 18 s 575 960 435 31 28 94 26 Accounts Receivable Inventory Accounts Payable Prepaid Rent Prepaid Inaurance Salaries and Wages Payable Utilities Payable Required: Prepare the cash fows from operating activities section of the statement of cash flows using the Indlirect methool (Amounts to deducted should be indicated with a minus sign.) 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 Cash Flows from Operating Activities: Adjustments to Reconcile Net Income to Net Cash Provided Activities Total Adjustments