Cash flows from (used for) operating activities-ind rect method - The net income reported on the income statement for the current year was $124,300. Depreciation recorded on stere equipment for the yesr amounted to $20,500, Balances of the current asset and current liabilit accounts at the beginning and end of the vear are as follows: a. Prepare the "Cash fows from (used for) eperating activities" section of the statement of cash fioms, using the indirect method. Use the minus aign to indicate cash outhows, cash payments, decresset in cash, or ony negative adjuatments. Statement of Cash Flows (partial) Line Item Description Amount Ansount Cash flows from (used for) operating activities? Adjustments to reconcile net inceme to net cash flows from (used for) operating activities: Wages payable 25,200 27,680 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 cosh, or any negative adjustments. Statement of Cash Flows (partial) Line Item Description Amount Amount Cash fiows from (used for) operating activitues: Adjustments to reconcile net inceme to net cash flews from (used for) operating activities: Changes in current operating assets and liablities: b. Cash flows from operating activities differs from net income because it does not use the of acequnting. For example revenuts are recerded on the income statement when