Cash Flows from (Used for) Operating Activities The net income reported on the income statement for the current year was $141,200. Depreciation recorded on store equipment for the year amounted to $23,300. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: 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: r x Changes in current operating assets and liabilities: Net cash flow from operating activities Adjustments to Net Income-Indirect Method Kingston Corporation's accumulated depreciation-equipment account increased by $9,500, while $6,200 of patent amortization was recognized between balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a gain of $7,200 from the sale of investments. Reconcile a net income of $107,900 to net cash flows from operating activities. $X