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Presented below is the income statement of Lisa, Inc.: Sales revenue $385,000 Cost of goods sold 226,000 Gross profit $159,000 Operating expenses 93,000 Income before income taxes 66,000 22,500 Income taxes $ 43,500 Net income In addition, the following information related to net changes in working capital is presented: Debit Credit Cash $12,000 Accounts receivable 24,400 Inventories $19,200 Salaries payable (operating expenses) Accounts payable 7,900 13,400 Income taxes payable 3,500 The company also indicates that depreciation expense for the year was $16,700 and that the deferred tax liability account increased $2,900. Prepare a schedule computing the net cash flov from operating activities by using the indirect method that would be shown on a statement of cash flows. (Show amounts that decrease cash flow with either a - sign e.g. -10,000 or in parenthesis e.g. (10,000).) Lisa, Inc. Statement of Cash Flows (Partial) (Indirect Method) Adjustments to reconcile net income to Prepare a schedule computing the net cash flow from operating activities by using the direct method that would be shown on a statement of cash flows. Lisa, Inc. Statement of Cash Flows (Partial) Direct Method $. Click if you would like to Show Work for this question: Open Show Work Activate Windows

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