Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $149,800. Depreciation recorded on store equipment for the yea amounted to $24,700. 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 Accounts receivable (net) $60,670 $55,210 43,500 40,800 Inventories 59,400 62,110 Prepaid expenses 6,670 5,240 Accounts payable (merchandise creditors) 56,850 52,230 Wages payable 31,060 34,120 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: Depreciation Adjustments to reconcile net income to net cash flow front operating activities: Decrease in accounts receivable Changes in current operating assets and liabilities: Depreciation X 000