B

Selected balance sheet information and the income statement for Pioneer Indus Selected Balance Sheet Accounts Prior Year Accounts Receivable $16,400 Inventories 22,000 Prepaid Rent 1,200 Accounts Payable 12,200 Salaries and Wages Payable 2,400 Current Year $11,000 24,200 0 15,600 3,600 $330,000 Income Statement Sales Revenue Expenses: Cost of Goods Sold Depreciation Expense Salaries Expense Rent Expense Insurance Expense Interest Expense Utilities Expense 196,000 22,000 33,000 13,200 13,200 12,100 11,000 $ 29,500 Net Income Required: 5 Required: Prepare the cash flows from operating activities section of the statement of cash flows using the deductions and cash outflows as a negative value.) Pioneer Industries Cash Flows from Operating Activities 245 Adjustments to reconcile net income to net cash provided by operating activities: Changes in current assets and current liabilities