Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $218,300, Depreciation recorded on equipment and a building amounted to $55,300 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $57,850 $61,320 Accounts receivable (net) 73,350 75,670 Inventories 144,530 130,370 Prepaid expenses 8,040 6,650 Accounts payable (merchandise creditors) 64,620 4 Salaries payable 9,310 68,430 8.520 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: 000 Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Check My Work more Check My Work un o search Pe D 11 0 & Previous Next 82F A 6:42 PM 5/27/2022