Cash Flows from Operating Activitles-Indirect Method The net Income reported on the Income statement for the current year was $145,700.Depreclation recorded on store equipment for the year amounted to $24,000. Balances of the current asset and current lablity accounts at the g and end of the yea r are as follows: End of Year 56,820 40,740 55,630 6,250 53,240 29,090 Beginning of Year Cash Accounts recelvable (net) Merchandise Inventory Prepald expenses Accounts payable (merchandise creditors) Wages payable 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. $52,270 38,630 58,800 4,970 49,450 32,300 Statement of Cash Plows (partial) Cash flows from operating activities: Net income 145,700 Adjustments to recondle net Income to net cash flow from operating activitles: 24,000 Changes in current operating assets and lablites Increase in accounts receivable Decrease in merchandise inventory Increase in prepaid expenses Increase in accounts payable Decrease in wages payable 2,110 | X -3,170 | X 1,280 X 3,800 | X 3,210 Net cash flow from operating activities 170,510 X