Please explain all concepts and show math.

Cash Flow From Operating Activities (Indirect Method) The Smithfield Company owns no plant assets and had the following income statement for the year: Sales revenue Cost of goods sold $770,000 Wages expense $1,120,000 210,000 Rent expense 65,000 Insurance expense 45,000 1,090,000 $30,000 Net income Additional information about the company includes: End of Year Beginning of Year Accounts receivable $74,000 Inventory Prepaid insurance Accounts payable 26,000 Wages payable $49,000 74,000 7,000 28,000 13,000 70,000 5,000 11,000 Use the preceding information to calculate the cash flow from operating activities using the indirect method