net cash flow from operating activities (indirect method) lincoln company owns no plant assets and reported the following income statement for the current year. sales $ 800,000 cost of goods sold $ 470,000 wages expense 110,000 rent expense 42,000 insurance expense 15,000 637,000 net income $ 163,000 additional balance sheet information about the company follows. end of year beginning of year accounts receivable $ 52,000 $ 49,000 inventory 60,000 67,000 prepaid insurance 13,000 7,000 accounts payable 22,000 15,000 wages payable 4,000 11,000 use the information to calculate the net cash flow from operating activities under the indirect method.