Cach flows fram (used for) ooeraving activities-incirect method The net income reported on the income statement for the current year was $153,600, Depreciation-recorded on store equipment for the year amourted tn 525,300 . Ealances of the current asset and current liablity accounts at the beginning and end of the year are as fellows: a. Prepare the "Cash fows from (osed for) operating actrities" bection af the itatmment of cash fows, using the inderect method. Use the minus sign to ingicate tass outhows, cash payments, decreases in cash, or any negative adjustments. Compute the increares and decreases in the current assetriability accounts over the period, Detemine what affect these changes would hove on cash Changes in current operating assets and liabilites are added of deducted as follows: Increbses in noncaish aurent operating assets are deducted. Decreases int noncash current operating assets are added. Increases in current operating liabilties are added. Decreases in current operating liabilities are deductedi. b. Cash fows from operating activities differs from net income because is dees not use the the income satement when X. I more Check My Work uses remaling