Kingbird Company reported net income of $490,000 for the current year. Depreciation recorded on buildings and equipment amounted to $79,000 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 $19,500 Cash $26,500 16,000 31,500 57,500 69,000 Accounts receivable Inventory Prepaid insurance Accounts payable Income taxes payable 8,600 6,200 14,800 17.400 730 1,140 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 es -15,000 or in parenthesis es. (15,000) KINGBIRD COMPANY Partial Statement of Cash Flows Adjustments to reconcile net income to 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 - signe.g. -15,000 or in parenthesis eg. (15,000).) KINGBIRD COMPANY Partial Statement of Cash Flows Adjustments to reconcile net income to C Question 6 of 14 Prepare the cash flows from the operating activities section of the statement of cash fic that decrease cash flow with either a - signeg. -15,000 or in parenthesis eg. (15,000).) KINGBIRD COMPANY Partial Statement of Cash Flows $ $ Decrease in Income Taxes Payable Decrease in Accounts Receivable Increase in Inventory Net Cash Used by Operating Activities Decrease in Inventory Increase in Prepaid Insurance Decrease in Accounts Payable Increase in Accounts Receivable Increase in Accounts Payable Depreciation Expense Net Income / (Loss) Net Cash Provided by Operating Activities Decrease in Prepaid Insurance Increase in Income Taxes Payable $