Cash flows from $($used for$)$ operating activitiesindirect methodThe net income reported on the income statement for the current year was $$143,400.$ Depreciation recorded on store equipment for the year amounted to $$23,700.$ Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:Line Item DescriptionEnd of YearBeginning of YearCash$$54,920$$$49,980$Accounts receivable $($net$)39,38036,940$Inventories$53,77056,230$Prepaid expenses$6,0404,750$Accounts payable $($merchandise creditors$)51,46047,280$Wages payable$28,12030,890$Question Content Areaa. 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.blankStatement of Cash Flows $($partial$)$blankLine Item DescriptionAmountAmountCash flows from $($used for$)$ operating activities:$$-$ Select $-$Adjustments to reconcile net income to net cash flows from $($used for$)$ operating activities:$-$ Select $-$Changes in current operating assets and liabilities:$-$ Select $--$ Select $--$ Select $--$ Select $--$ Select $-$$$-$ Select $-$Question Content Areab. Cash flows from operating activities differs from net income because it does not use the fill in the blank $1$ of $2$ of accounting. For example revenues are recorded on the income statement when fill in the blank $2$ of $2.$