Cash Flows from Operating Activities ---Indirect Method The income statement disclosed the following items for the year: Depreciation expense $35,900 Gain on disposal of equipment 20,930 Net Income 302,600 The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts recevable $5,590 Inventory (3,180) Prepaid insurance (1,190) Accounts payable (3.790) 840 Income taxes payable 1,190 Dividends payable a. Prepare the "Cash flows from operating activities" section of the statement of cash flows, using the Indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. statement of Cash Flows (partial) Cash flows from operating activities: Net income Check My Work 3 more Check My Work uses remaining Previous