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The net income reported on the income statement for the current year was $312,800. Depreciation recorded on equipment and a building amounted to $105,240 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 $95,800 $90,240 Cash Accounts receivable (net) Inventories Prepaid expenses Accounts payable merchandise creditors) Salaries payable 112,220 214,170 119,310 195,260 52.740 14,850 95,600 104,370 15.720 12,600 Amount Descriptions Amortization of intangible assets Decrease in accounts payable Decrease in accounts receivable Decrease in inventories Decrease in prepaid expenses Decrease in salaries payable Depreciation Increase in accounts payable Increase in accounts receivable Increase in inventories Increase in prepaid expenses Increase in salaries payable Net cash flow from operating activities Net cash flow used for operating activities Net income Net loss A. Prepare the Cash Flows from Operating Activities section of the statement of cash nows, using the indirect method. Refer to the Amount Descriptions Not provided for the of the answer choices for text entries. Use the minus sign to Indicato cash outflows, cash payments, decreases in cash and for any adjustments, it required Statement of Cash Flows (partial) 1 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: 6 Changes in current operating assets and tlabilities 10 11

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