Exercise 11-39 (Algorithmic) Reporting Net Cash Flow from Operating Activities The following information is available for Cornelius Inc. Selected Income Statement Information Net income Depreciation expense Amount $34,980 8,600 Selected Balance Sheet Information Beginning Balance Ending Balance Accounts receivable $21,200 $27.950 Inventory 45,800 40,125 Accounts payable 23,700 32,600 Required: Prepare the net cash flows from operating activities using the indirect method. Use a minus sign to indicate any decreases in cash or cash flows. Cornelius Inc Net Cash Flows from Operating Activities Using Indirect Method Cash flows from operating activities o Adjustments to reconcile net income to net cash flow from operating activities: Prepare the net cash flows from operating activities using the indirect method. Use a minus sign to indicate any decreases in cash or cash flow Cornelius Inc. Net Cash Flows from Operating Activities Using Indirect Method Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Net cash provided by operating activities