Exercise 197 Tamarisk Company reported net income of $490,000 for the current year. Depreciation recorded on buildings and equipment amounted to $74,000 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 $23,500 $17,000 Accounts receivable 18,500 32,500 Inventory 58,000 67,500 Prepaid insurance 7,800 6,100 Accounts payable 12,400 17,800 Income taxes payable 600 1,030 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).) TAMARISK COMPANY Partial Statement of Cash Flows Select an item $Enter a dollar amount Adjustments to reconcile net income to Select an opening subsection name : Select an item Enter a dollar amount Select an item Enter a dollar amount Select an item Enter a dollar amount Select an item Enter a dollar amount Select an item Enter a dollar amount Select an item Enter a dollar amount Select a closing section name $Enter a total amount for this section Click if you would like to Show Work for this question: Open Show Work