Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $123,000. Depreciation recorded on store equipment for the year amounted to $20,300. 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 $49,570 $45,600 Accounts receivable (net) 35,540 33,700 Inventories 51,300 48,530 5,450 Prepaid expenses 4,330 Accounts payable (merchandise creditors) 46,450 43,140 Wages payable 25,380 28,180 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: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Q 11.00 Net cash flow from operating activities