PB12-2 (Algo) Computing Cash Flows from Operating Activities (Indirect Method) [LO 12-2] The income statement and selected balance sheet information for Calendars Incorporated for the year ended December 31 are presented below. Income Statement Sales Revenue Expenses: Cost of Goods Sold Depreciation Expense Salaries and Wages Expense Rent Expense Insurance Expense Interest Expense Utilities Expense Net Income Inventory Selected Balance Sheet Accounts Accounts Receivable Accounts Payable Salaries and Wages Payable Utilities Payable Prepaid Rent $ 69,000 31,500 15,100 9,100 1,600 850 750 550 $ 9,550 Ending Balances Beginning Balances $ 450 1,350 $ 530 1,140 1,390 1,680 640 345 110 0 90 65 120 80 Prepaid Insurance 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 by a minus sign.)