QS 12-4 Indirect: Computing cash from operations LO P2

MOSS COMPANY Selected Balance Sheet Information December 31, 2017 and 2016
	2017			2016
Current assets
Cash	$	90,650		$	32,800
Accounts receivable		31,000			44,000
Inventory		66,000			55,300
Current liabilities
Accounts payable		42,400			31,700
Income taxes payable		2,650			3,400

MOSS COMPANY Income Statement For Year Ended December 31, 2017
Sales				$	544,000
Cost of goods sold					355,600
Gross profit					188,400
Operating expenses
Depreciation expense	$	48,000
Other expenses		128,000			176,000
Income before taxes					12,400
Income taxes expense					7,400
Net income				$	5,000

Use the information above to calculate this companys cash flows from operating activities using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)