Cash flows from operating activities-indirect method instructions Amount Descriptions Statement of Cash Flows-Operating Activities Final Question Amount Descriptions The income statement disclosed the following items for 2016 Amount Descriptions Depreciation expense Gain on disposal of equipment Net income $ 57,600 Amortizathon of intangible assets Cash paid tor dividends Decrease in accounts payable Decrease in accounts receivable Decrease in dividends payable Decrease in income taxes payable Decrease in inventory 508,000 Balances of the current assets and current liability accounts changed between December 31, 2015, and December 31,2016, as tollows Increase (Decrease) Accounts receivable $8,960 (5,120) 1,920) (6,080) 1,410 2,200 Decrease in prepaid insurance Inventory Prepaid insurance Accounts payable Income taxes payable Dividends payable Gain on disposal of equipment Increase in accounts payable Increase in accounts receivable Increase in dividends payabie Increase in income taxes payable Increase in inventory Increase in prepaid insurance Loss on disposal of equipment Net cash low from operaing actvdies Required the indirect method Refer to the Amount A Prepare the Cash Flows from Operating Activities section of me statement of cash Mos, using Descriptions list provided for the exact wording of the answer choices for lext entries. Use the minus sign to inoicate cash outnlows, cash payments, decreases in cash and for any adjustments, if required diferent than net income Net cash now used for operating activides Net income Net loss B. Briely explain why net cash flows from operating activities is Cash flows from operating activities-indirect method Statement of Cash Flows-Operating Activities Final Question Statement of Cash Flows-Operating Activities A Prepare the Cash Flows from Operating Activities secton of the statement of cash Rows, using the indirect method Reter to the Armount Descriptions kist provided for the exact wordking of me answer cash paymenls, decreases in cash and for any adjustrments if required choices for text enties Use the mvnus sign to indlicate cash outowrs Statement of Cash Flows (partial) Cash flows froem operating actrvities s Adjustments to reconcile net income to net cash flow from operating activites: 6Changes m curent operalting assets and Liabilities: lows-Uperatihg Activities Final Question Questior B Briefly explain why net cash flows from operating activities is different than net Cash fows trom operating activities differs from net income because it does not use the of accounting For example, revenues are recorded on the income statement when