Question: Orihows from Opening Activitetindirect Method The net income reported on the income statement for the current year was $149.100. Depreciation recorded on store equipment for
Orihows from Opening Activitetindirect Method The net income reported on the income statement for the current year was $149.100. Depreciation recorded on store equipment for the year amounted to $24,600 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 $59,790 554,410 Accounts receivable (net) 42,870 40,210 Inventories 58,530 61,210 Prepaid expenses 6,580 5,170 Accounts payable (merchandise creditors) 56,020 51.470 Wages payable 30,610 33,630 Prepare the cash flows from operating activities' section of the statement of Cows, using the indirect method. Use the minus sign to indicate cathout how can payments, decreases in cath, or any negative adjustments Statement of Cash Flows (partial) Cash flows from operating activities Nincome Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Changes in current operating assets and liabilities Increase in accounts receivable
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