Question: Cash Flows from Operating Activities - Indirect Method The net income reported on the income statement for the current year was $218,800. Depreciation recorded on

Cash Flows from Operating Activities - Indirect Method The net income

Cash Flows from Operating Activities - Indirect Method The net income reported on the income statement for the current year was $218,800. Depreciation recorded on equipment and a building amounted to =65,400 for the year. Balances of the current asset and current liabity accounts at the beginning and end of the year are as follows: a. Prepare the "Cash. Fows from Operating Activities" section of the statement of cash: llows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. b. If the direct method had been used, would the net cash flow froen operating activities have been the same

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