Cash flows from operating activities-indirect method Amount Descriptions Statement of Cash Flows-Operating Activities Final Question The net income reported on the income statement for the current year was $346.400 Depreciation recorded on equipment and a building amounted to $99.330 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 $90,570 111,490 222,910 13,500 96,260 15,150 Beginning of Year Cash Accounts receivable (net) Inventories Prepaid expenses Accounts payable (merchandise creditors) Salaries payable $96,530 119,020 208,840 14,540 103,590 12,980 Required: A. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Refer to the Amournt Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required B. If the deectmeetod had been used, would the net cash now from operating activites have been the same? Cash flows from operating activities-indirect method Instructions Amount Descriptions Statement of Cash Flows-Operating Activities Final Question 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 ncrease in accounts payable ncrease in accounts receivable ncrease 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 Cash flows from operating activities-indirect method Instructions Amount Descriptions Statement of Cash Flows-Operating Activities Final Question A Prepare the Cash Flows from Operating Activities section of the statement of cash ows, using the iwdrect method Refer to the Amount Descriptions st provided for the exact wording of the answer choices for text ontries. Use the minus sign to indlocate cash oulows, cash payments, decreases in cash and lor any adjustments. i required Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cath fiow from operating activities Changes in curent operating assets and liabiluties Cash flows from operating activities-indirect method Instructions Amount Descriptions Statement of Cash Flows-Operating Activities Final Question B. If the direct method had been used, would the net cash flow from operating activities have been the same