using the indirect method

MOSS COMPANY Selected Balance Sheet Information December 31, 2017 and 2016 2017 2016 Current assets Cash Accounts receivable Inventory $87,150 $29,300 37,000 54,600 27,500 62,500 Current liabilities Accounts payable Income taxes payable 35,400 2,300 28,200 2,700 MOSS COMPANY Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses $540,000 341,600 198,400 Depreciation expense $ 41,000 Other expenses Income before taxes Income taxes expense Net income 124,500165, 500 32,900 11,400 $ 21,500 Use the information above to calculate this company's cash flows from operating activiti deducted should be indicated by a minus sign.) Cash flows from operating activities: Adjustments to reconcile net income to operating cash flow