ash flows from (used for) operating activities-indirect method the net income reported on the income statement for the current year was $312,000. Depreciation recorded on equipment and a building amounted to $93,300 for the ear. 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 $79,870- $83,860 Accounts receivable (net) 101,280 103,480 Inventories 199,680 178,290 Prepaid expenses 11,100 11,820 Accounts payable (merchandise creditors) Salaries payable 89,210 12,860 93,590 11,660 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below X Open spreadsheet Prepare the "Cash flows from (used for) operating activities" section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash utflows, cash payments, decreases in cash, or any negative adjustments. Prepare the "Cash flows from (used for) operating activities" section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash tflows, cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) ash flows from (used for) operating activities: et income djustments to reconcile net income to net cash flows from (used for) 312,000 perating activities: Depreciation hanges in current operating assets and liabilities: Decrease in accounts receivable Increase in inventories Decrease in prepaid expenses Decrease in accounts payable Increase in salaries payable 93,300 2,200 -21,390 720 -4,380 1,200 et cash flows from operating activities 383,650 If the direct method had been used, would the net cash flows from operating activities have been the same? es