QS 16-6 (Algo) Indirect: Computing cash from operations LO P2

MOSS COMPANY
Income Statement
For Year Ended December 31, 2021
Sales	$ 569,000
Cost of goods sold	365,600
Gross profit	203,400
Operating expenses (excluding depreciation)	130,500
Depreciation expense	53,000
Income before taxes	19,900
Income taxes expense	11,100
Net income	$ 8,800

MOSS COMPANY
Selected Balance Sheet Information
At December 31	2021	2020
Current assets
Cash	$ 93,150	$ 35,300
Accounts receivable	33,500	49,000
Inventory	68,500	55,800
Current liabilities
Accounts payable	47,400	34,200
Income taxes payable	2,900	3,900

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.)