The net income reported on the income statement for the current year was $190,000. Depreciation...
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Accounting
The net income reported on the income statement for the current year was $190,000. Depreciation recorded on fixed assets and amortization of patents for the year were $50,000 and $4,000, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:
|
| End | Beginning |
| Cash | $ 51,000 | $ 63,000 |
| Accounts receivable | 117,000 | 111,000 |
| Inventories | 108,000 | 99,000 |
| Prepaid expenses | 2,200 | 4,100 |
| Accounts payable (merchandise creditors) | 68,000 | 76,000 |
What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
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