PLEASE SHOW THE CALCULATIONS FOR EACH

Cash flows from operating activities-indirect method

The data below are taken from the financial statements of the Spectrum Corporation:

Income Statement:	2018
Net income	$ 299,000
Depreciation expense	101,000
Amortization of trademark	20,000
Loss on sale of machinery	38,000

Balance Sheet:	December 31, Year 2	December 31, Year 1
Accounts receivable	$ 195,000	$ 204,000
Inventory	353,000	321,000
Prepaid expenses	50,000	38,000
Accounts payable	314,000	290,000
Accrued expenses payable	158,000	159,000

Required: Complete the partial statement of cash flows for the year ended December 31, Year 2, showing the computation of net cash flows from operating activities by the indirect method:

SPRECTRUM CORPORATION Partial Statement of Cash Flows For the Year Ended December 31, Year 2
Cash flows from operating activities (indirect method):
Net income	$
Add:
Subtotal	$
Less:
Net cash flows from operating activities	$