3:41 . HW 6 - Chapter 15.pdf - Read-only Prepare a schedule of cash flows from operating activities using the indirect method. LO 2 Computing Cash Flows from Operating Activities: Indirect Method E3B. During 2014, Alvin Corporation had net income of $41,000. Included on its income statement were depreciation expense of $2,300 and amortization expense of $300. During the year, Accounts Receivable increased by $3,400, Inventories decreased by $1,900, Prepaid Expenses decreased by $200, Accounts Payable increased by $5,000, and Accrued Liabilities decreased by $450. Determine net cash flows from operating activities using the indirect method. hts Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. III 0