Problem 16-3B Calculating cash flows (indirect method) LO5.6 CHECK FIGURE: Cash inflow from operating activities $22,800 Burrow Mining Inc.'s comparative balance sheet information at December 31, 2017, and 2016, and its income statement for the year ended December 31, 2017, are as follows: Burrow Mining Inc. Income Statement Year Ended December 31, 2017 Sales.. Cost of goods sold. Gross profit. Operating expenses.... Depreciation expense...24,080 Profit from Operations. Loss on sale of equipment... Irvestment income Profit before Taxes.... Income taxes. Profit 504,000 336,000 168,000 77,920 102,000 66,000 2,240 6,720 70,480 10,000 60,480 Click here for a description of Table: Problem 16-3B; Income Statement. Burrow Mining Inc. Comparative Balance Sheet Information December 31 Net 2017 2016 Change . 28,000 14,560 $ 13,440 Cash equivalents....10,080 5,600 4,480 Accounts recelvable.51,520 21,840 29,680 Inventory..66,640 48,720 17,920 0 10,080 (10,080) Building and equipment... 25,280 266,000 (6,720) Accumulated depreciation. 68,880 56,560 12,320 Dividends payable 400 800 (400)