Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $303,500. Depreciation recorded on equipment and a building amounted to $90,700 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 $82,860 $87,830 Accounts receivable (net) 105,070 108,380 Inventories 207,150 186,730 Prepaid expenses 11,520 12,380 Accounts payable (merchandise creditors) 92,550 98,020 Salaries payable. 13.340 12.210 a. Prepare the "Cash Flows from Operating Activities" section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, 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: 000000 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?