Cash Flows from (Used for Operating Activities The net income reported on the income statement for the current year was $290,000 Depreciation recorded on it and a bulding amounted to 5150 500 for the year Balances of the current and current liability accounts at the beginning and end of the years olows: End Buning of Year of Year Cash $117.600 $135,000 Accounts receivable (net) 12.500 141,100 Inventories 291,000 274,300 Prepaid expenses 5,600 7100 Accounts payable (merchandise creditors) 143,400 172,400 Salaries payable 11,300 6,300 1. Prepare the Cash Flows from Crefo) Operating Activities son of the thing the indirected the scale cuflows.ch payments, decreases inch, or any negative starts Statement of Cash Flowe (partial) Cash flows from (wed for operating cov Adjustments to reconcile net income to net cash Mower peting Changes in current operating wis and Net) Cuck My Work All word Suomen Salaries payable 11,300 6,300 a. Prepare the Cash Flows from (used for) Operating Activities section of the statement of how, in the direct de corte chtflow, oh 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 abilities: DIDI I O Net cash flows from operating activities b. If the direct method had been used, would the net cash flows from operating activities have been the same Previous Next Check My Work Save and Samtlig for de