Cash flows from $($used for$)$ operating activities$$indirect method

The net income reported on the income statement for the current year was $$145,200.$ Depreciation recorded on store equipment for the year amounted to $$24,000.$ Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:

Line Item Description End of Year Beginning of Year

Cash $$56,920$ $$52,370$

Accounts receivable $($net$)40,81038,700$

Inventories $55,72058,920$

Prepaid expenses $6,2604,980$

Accounts payable $($merchandise creditors$)53,33049,540$

Wages payable $29,14032,360$

Question Content Area

a$.$ Prepare the $$Cash flows from $($used for$)$ operating activities$$ 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.