Cash Flows from (Used for) Operating Activities The net income reported on the income statement for the current year was $133,900. Depreciation recorded on store equipment for the year emounted to $22,100. 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 Cesh $52,990 $48,130 Accounts receivable (net) 37,920 35,570 Merchandise Inventory 51,780 54,150 Prepaid expenses 5,820 4,570 Accounts payable (merchandise creditors) 49,560 45,530 Wages payable 27,000 29,740 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) opereting activities: Changes in currant aperating assets and liabilities: Net cash flow from operating activities b. Cash flows from operating activities differ from net income because it does not use the of accounting. For example revenues are recorded on the income statement when