Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $296,300 Depreciation recorded on equipment and a building amounted to $80,600 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 581,780 $36.590 105,980 154,300 Cash Accounts receivable (net) Inventories Prepaid expenses Accounts payable (merchandise creditors) Salaries payable 103,700 204,450 11,370 91,350 13,170 12.220 96,750 12,050 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