Cash Flows from (Used for) Operating Activities The net income reported on the income statement for the current year was $319,100. Depreciation recorded on equipment and a building amounted to $95,400 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: Beginning End of Year of Year Cash $83,920 $88,120 Accounts receivable (net) 106,410 108,740 Inventories 209,800 187,340 Prepaid expenses 11,660 12,420 Accounts payable (merchandise creditors) Salaries payable 93,740 13,510 98,340 12,250 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. Statement of Cash Flows (partial) Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Net cash flows from operating activities b. If the direct method had been used, would the net cash flow from operating activities have been the same?