Chapter 13 - Homework E Print Item E Calculator eBook Show Me How Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $116,100. Depreciation recorded on store equipment for the year amounted to $19,200. 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 $46,560 $42,840 Accounts receivable (net) 33,380 31,660 Inventories 45,580 48,200 Prepaid expenses 5,120 4,070 Accounts payable (merchandise creditors) 43,630 40,530 23.840 Wages payable 26,480 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: Next> Check My Work 5 more Check My Work uses remaining. Previous Submit Assignment for Grading Assignment Score: 0.0% Save and Exit Chapter 13 - Homework E Print Item E Calculator eBook Show Me How 40,530 Accounts payable (merchandise creditors) 43,630 Wages payable 23,840 26,480 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: Net cash flow from operating activities b. Cash flows from operating activities differs from net income because it does not use the of accounting. For example revenues are recorded on the income statement when Next> Check My Work 5 more Check My Work uses remaining. Previous Submit Assignment for Grading Assignment Score: 0.0% Save and Exit