Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $226,500. Depreciation recorded on equipment and a building amounted to $68,300 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 Cash $63,520 $66,700 Accounts receivable (net) 80,540 82,310 Inventories 158,800 141,800 Prepaid expenses 8,830 9,400 Accounts payable (merchandise creditors) 70,950 74.440 Salaries payable 10,230 9,270 a. Prepare the Cash Flows from Operating Activities section of the statement of cath Mows, using the Indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments, Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net Income to net cash flow from operating activities: Changes in current operating assets and liabilities: HII I Net cash flow from operating activities b. If the direct method had been used, would the net cash flow from operating activities have been the same