Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $146,600. Depreciation recorded on store equipment for the year amounted to $24,200. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: Cash Accounts receivable (net) Merchandise inventory Prepaid expenses Accounts payable (merchandise creditors) Wages payable End of Year Beginning of Year $58,490 $53,810 41,940 39,770 57,260 60,540 6,430 5,110 54,810 50,900 29,950 33,250 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 outflows, cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: 1000 0 0

The net income reported on the income statement for the current year was $146,600. Depreciation recorded on store equipment for the year amounted to $24,200. Balances of the current asset and current liability accounts at the beginning and end of the year are ss follows: a. Prepare the Cash Flows from Operating Activilies section of the statement of cash flows, wsing the indirect method. Use the minus sigh to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (oartial)