3 CP12-2 Computing Cash Flows from Operating Activities (Indirect Method) [LO 12-2] Book Print erences Hamburger Heaven's Income statement for the current year and selected balance sheet data for the current and prior years ended December 31 are presented below. Income Statement Sales Revenue $2,460 Expenses: Cost of Goods Sold 990 Depreciation Expense 290 Salaries and Wages Expense Rent Expense 340 Insurance Expense 89 Interest Expense 69 Utilities Expense Net Income $ 33 590 59 Selected Balance Sheet Accounts Current Year Prior Year Inventory $100 $ 69 Check Selected Balance Sheet Accounts Current Year Prior Year Inventory $100 $ 69 Accounts Receivable 425 540 Accounts Payable 220 250 Salaries/Wages Payable 47 29 Utilities Payable 16 78 Prepaid Rent 2 10 Prepaid Insurance 14 5 TIP: Prepaid Rent decreased because the amount taken out of Prepaid Rent (and subtracted from net income as Rent Expense) was more than the amount paid for rent in cash during the current year. Required: Prepare the cash flows from operating activities section of the statement of cash flows using the Indirect method. (Amounts to be deducted should be indicated with a minus sign.) HAMBURGER HEAVEN Statement of Cash Flows (Partial) For the Year Ended December 31 Cash Flows from Operating Activities Book Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Print ferences 0 Total Adjustments $ 0