The net income reported on the income statement for the current year was $132,700. Depreciation recorded...

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The net income reported on the income statement for the current year was $132,700. Depreciation recorded on store equipment for the year amounted to $21,900. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash Accounts receivable (net) Inventories $51,350 $47,240 36,820 34,910 50,270 53,150 Prepaid expenses 5,650 4,490 Accounts payable (merchandise creditors) Wages payable 48,110 26,290 44,690 29,190 a. Prepare the "Cash flows from (used for) operating activities" section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Line Item Description Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: b. Cash flows from operating activities differs from net income because it does not use the Amount Amount of accounting. For example revenues are recorded on the income statement when The net income reported on the income statement for the current year was $132,700. Depreciation recorded on store equipment for the year amounted to $21,900. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash Accounts receivable (net) Inventories $51,350 $47,240 36,820 34,910 50,270 53,150 Prepaid expenses 5,650 4,490 Accounts payable (merchandise creditors) Wages payable 48,110 26,290 44,690 29,190 a. Prepare the "Cash flows from (used for) operating activities" section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Line Item Description Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: b. Cash flows from operating activities differs from net income because it does not use the Amount Amount of accounting. For example revenues are recorded on the income statement when