Exercise 11-39 Reporting Net Cash Flow from Operating Activities The following information is available for Cornelius Inc.: Amount Selected Income Statement Information Net income Depreciation expense $52,000 11,300 Selected Balance Sheet Information Beginning Balance Ending Balance $17.650 Accounts receivable Inventory Accounts payable $11,500 33,800 15,900 27,825 24,600 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: Adjustments to reconcile net income to net cash flow from operating activities: Decrease in accounts payable ting activities Decrease in accounts receivable Increase in accounts payable Increase in inventory Net income