MOSS COMPANY Income Statement
For Year Ended December 31, 2021.
Sales $ 544,000
Cost of goods sold 355,600
Gross profit 188,400
Operating expenses (excluding depreciation) 128,000
Depreciation expense 48,000
Income before taxes 12,400
Income taxes expense 7,400
Net income $ 5,000
MOSS COMPANY
Selected Balance Sheet Information
At December 31
2021 2020
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
Use the information above to calculate this company’s cash flows from operating activities using the indirect method.