Cash Flows from (Used for) Operating Activities The net income reported on the income statement for the current year was $224,600. Depreciation recorded on equipment and a building amounted to $67,200 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End Beginning. of Year of Year Cash Accounts receivable (net) Inventories $59,070 $62,610 74,900 77,260 147,680 133,110 Prepaid expenses 8,210 8,830 Accounts payable (merchandise creditors) 65,980 69,870 Salaries payable 9,510 8,700 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. blank Statement of Cash Flows (partial) Cash flows from (used for) operating activities: Net income blank 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 Fandthark 00000 00