Cash Flows from Operating Activities--Indirect Method The net income reported on the income statement for the current year was $93,700. Depreciation recorded on store equipment for the year amounted to $31,200. 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 24.100 $19,700 Accounts receivable (net) Inventories 50,000 Prepaid expenses Accounts payable marchandise creditors Cash 56,000 65,000 47,200 3.250 8,000 17,200 Wages payable 5.300 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 outflows, cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Cash flows from operating activities 0 Adjustments to reconcile net income to net cash flow from operating activities Changes in current operating and Net cash flow from corting activities b. Cash flows from operating activities differs from net income because it does not use the accounting. For example revenues are recorded on the income statement when of