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  3. the net income reported on the income statement fo

The net income reported on the income statement for the current year was $300,400. Depreciation...

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Accounting

The net income reported on the income statement for the current year was $300,400. Depreciation recorded on equipment and a building amounted to $89,800 for the year. 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
Cash $81,110 $85,980
Accounts receivable (net) 102,850 106,100
Inventories 202,780 182,790
Prepaid expenses 11,270 12,120
Accounts payable (merchandise creditors) 90,600 95,950
Salaries payable 13,060 11,950

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 out flows, cash payments, decreases in cash, or any negative adjustments.

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