Cash flows from operating activities-indirect method Amount Descriptions Statement of Cash Flows-Operating Activities Final Question Instructions The net income reported on the income statement for the current year was 5437,000. Depreciation recorded on store equipment for the year amounted to $17.400 Balances of the current asset and current l y accounts at the beginning and end of the year are as follows: End of Year 540 680 Cash Accounts receivable (net) Merchandise inventory Prepaid expenses Accounts payable (merchandise creditors) Wages payable 31,350 40 160 3,590 40,780 20,890 Beginning of Year 537,320 27.460 43,640 4.730 37.480 24 530 Required: A Prepare the Cash Flows from Operating Activities section of the statement of cashows using the indirect method refer to the Amount Calculator Cash flows from operating activities-indirect method Amount Descriptions Statement of Cash Flows-Operating Activities Final Question Instructions Cash Accounts receivable (net) Merchandise inventory Prepaid expenses Accounts payable (merchandise creditors) Wages payable 540,650 31,350 40,160 3,590 40,780 20,890 $37,320 27,460 43,640 4,730 37.480 24,530 Required: A Prepare the Cash Flows from Operating Activities section of the statement of cash flows using the indirect method Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments if required B. Briefly explain why net cash flow from operating activities is different from net income