Cash flows from (used for) operating activities-indirect method The net income reported on the income statement for the current year was $119,400. Depreciation recorded on store equipment for the year amounted to $19,700. 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. A summary of the cash receipts and cash cash payments, decreases in cash, or any negative adjustments. such as a month or a year. Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: b. Cash flows from operating activities differs from net income because it does not use the income statement when of accounting. For example revenues are recorded on the