Chapter 13 eBook Show Me How Cash flows fram (used for) operating activities-indirect method The nut income reported on the income statement for the current year was $106,800. Depredation recorded on store equipment for the year amounted to $41,700. 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 Ca $24,100 $19,700 Accounts receivable (net) 65,000 54,000 Inventories 47,200 52,000 Prepaid expenses 3,250 6,000 Accounts payable (merchandise creditors) Wages payable 23,400 4,700 18,500 6,400 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) Amount Amount Line Item Description Cash flows from (used for) operating activities Adjustments to reconcile net income to net cash flows from (used for) operating activities Changes in operating assets and labies Check My Work