Chapter 13 eBook Show Me How Printem Cash flows from (used for) operating activities-indirect method This net income reported on the income statement for the current year was $222,000. Depreciation recorded on equipment and a building amounted to $98,400 for the year. Balances of the curre asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $75,900 $84,610 Accounts receivable (net) 82,150 89,120 Inventories 161,600 175,900 Prepaid expenses 4.450 5,100 Accounts payable (merchandise creditors) 98,370 115,000 Salaries payable 6,500 4,550 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 cauft, or any negative adjustments Statement of Cash Flows (partial) Line Item Description Amount Amount Cash flows from (used for) operating activities Adents to reconcile net income to net cash flows from (used for) operating activities Chirch My Wish Previous Next