Question 1) Curwen Inc.reported net cash flow from operating activities of $173,400 on its statement of cash flows for the year ended December 31. The following information was reported in the "Cash flows from operating activities" section of the statement of cash flows, using the indirect method:

• Decrease in income taxes payable: $3,200
• Decrease in inventories: 8,000
• Depreciation: 12,300
• Gain on sale of investments: 5,500
• Increase in accounts payable: 2,200
• Increase in prepaid expenses: 1,400
• Increase in accounts receivable: 6,000

Determine the net income reported by Curwen Inc. for the year ended December 31. $______

Question 2) Selected data (in thousands) derived from the income statement and balance sheet of National Beverage Corp. for the recent year are as follows:

Income statement data:

• Net income: $49,295
• Gain on disposal property: 1,220
• Depreciation expense: 11,580
• Other items involving non cash expenses: 1,435

Balance Sheet Data:

• Increase in accounts receivable: 1,710
• Decrease in inventory: 960
• Increase in prepaid expenses: 615
• Decrease in accounts payable: 665
• Decrease in accrued and other current liabilities: 980

Prepare the "cash flows from operating activities" section of the statement of cash flows, using the indirect method for National Beverage Corp. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Enter the amounts in thousands of dollars, as shown above. (Picture below):

a. Prepare the "Cash flows from operating activities" section of the statement of cash flows, using the indirect method for National Beverage Corp. Use the minus sign to indicate cash outflows, cash payments, decreases cash, or any negative adjustments. Enter the amounts in thousands of dollars, as shown above. National Beverage Co. Cash Flows from Operating Activities (in thousands) Cash flows from (used for) operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Gain on disposal of property Other items involving noncash expenses Changes in current operating assets and liabilities: Increase in accounts receivable Q 110 11100 Decrease in inventory Increase in prepaid expenses Decrease in accounts payable Decrease in accrued and other current liabilities Net cash flow from operating activities