Cash flows from (used for) operating activities-indirect method The net income reported on the income statement for the current year was $136,400. Depreciation recorded on store equipment for the year amounted to $22,500. 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 $54,700 $50,320 Accounts receivable (net) 39,220 37,190 Inventories 53,550 56,610 Prepaid expenses 6,020 4,780 Accounts payable (merchandise creditors) 51,250 47,600 Wages payable 28,010 31,100 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