Statement of Cash Flows (Indirect Method)Prepare the operati…
Statement of Cash Flows (Indirect Method)Prepare the operating section of the statement of cash flows using the indirect method, based on the following information for Johnson Inc.:Income Statement (partial)Net income: $82,000Depreciation expense: $12,000Gain on sale of equipment: $4,000Changes in Balance Sheet AccountsAccounts receivable decreased by $7,000Inventory increased by $10,000Prepaid insurance increased by $1,000Accounts payable increased by $5,000Wages payable decreased by $3,000Prepare the operating section only, showing the calculation of net cash provided by operating activities.