QS 12-6 Indirect: Computing cash from operations LO P2

MOSS COMPANY Selected Balance Sheet Information December 31, 2019 and 2018
	2019			2018
Current assets
Cash	$	88,650		$	30,800
Accounts receivable		29,000			40,000
Inventory		64,000			54,900
Current liabilities
Accounts payable		38,400			29,700
Income taxes payable		2,450			3,000

MOSS COMPANY Income Statement For Year Ended December 31, 2019
Sales				$	555,000
Cost of goods sold					347,600
Gross profit					207,400
Operating expenses
Depreciation expense	$	44,000
Other expenses		126,000			170,000
Income before taxes					37,400
Income taxes expense					13,600
Net income				$	23,800

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