Cash Flows from (Used for) Operating Activities The net income reported on the income statement for the current year was $267,100. Depreciation recorded on equipment and a building amounted to $79,900 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End Cash Accounts receivable (net) of Year $73,990 Beginning of Year $77,690 93,820 95,870 Inventories 184,980 165,170 Prepaid expenses 10,280 10,950 Accounts payable (merchandise creditors) Salaries payable 82,650 11,910 86,700 10,800 Statement of Cash Flows (partial) 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. Cash flows from (used for) operating activities: Net income Adjustments to reconcile net income to net cash flows from (used for) operating activities: Depreciation Changes in current operating assets and liabilities: Decrease in accounts receivable Increase in inventories Decrease in prepaid expenses Decrease in accounts payable Increase in salaries payable Net cash flows from operating activities |00000 00