Cash Flows from (Used for) Operating Activities The net income reported on the income statement for the current year was $151,200. Depreciation recorded on store equipment for the year amounted to $24,900. 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 $57,910 $53,280 Accounts receivable (net) 41,520 39,370 Merchandise inventory 56,690 59,940 Prepaid expenses 6,370 5,060 Accounts payable (merchandise creditors) Wages payable 54,260 50,400 29,650 32,930 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 operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: