Cash flows from $($used for$)$ operating activities$-$indirect method

The net income reported on the income statement for the current year was $$222,000.$ Depreciation recorded on equipment and a building

amounted to $$98,400$ for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as

follows:

a$.$ Prepare the "Cash flows from $($used for$)$ 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$)$

Line Item Description

Cash flows from $($used for$)$ operating activities:

Adjustments to reconcile net income to net cash flows from $($used for$)$ operating activities:

Changes in current operating assets and liabilities:

Decrease in accounts receivable

Increase in inventories

Decrease in prepaid expenses $$

Decrease in accounts payable $$

Increase in salaries payable

Net cash flows from operating activities $$

b$.$ If the direct method had been used, would the net cash flows from operating activities have been the same?