Current Attempt in Progress Larkspur Supply Company reported net income of $350,000 for the current year. Depreciation recorded on buildings and equipment amounted to $71,000 for the year. 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 $28,000 $18,500 Accounts receivable 19,500 40,000 Inventory 56,000 62,500 Prepaid insurance 8,700 6,200 Accounts payable 15,000 19,900 Income taxes payable 510 1,210 Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000).) LARKSPUR SUPPLY COMPANY Statement of Cash Flows (Partial) - Indirect Method LARKSPUR SUPPLY COMPANY Statement of Cash Flows (Partial) - Indirect Method Net Income/(Loss) Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Decrease in Accounts Receivable Decrease in Inventory eTextbook and Media 3 $