Ross Corp uses the indirect method to prepare the statement of cash flows

Refer to the following section of the comparative balance sheet:

Ross Corp
Comparative Balance Sheet
December 31, 2017 and 2016
2017 2016 Increase/(Decrease)
Accounts Payable $8,000 $9,000 $(1,000 )
Accrued Liabilities 3,000 1,500 1,500
Long-term Notes Payable 56,000 60,000 (4,000 )
Total Liabilities $67,000 $70,500 $(3,500 )

The change in Accrued Liabilities is shown as a negative cash flow in the adjustments to net income.
Indicate whether the statement is true or false

FALSE