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L M N 1 B C D E F G H I J K A The net income reported on the income statement for
L M N 1 B C D E F G H I J K A The net income reported on the income statement for the current year was $150,800. Depreciation recorded on store equipment for the year amounted to 2 $24,900. A piece of equipment with a cost of $40,000 and accumulated depreciation of $22,000 was sold for $10,000. Balances of the current asset and current 3 liability accounts at the beginning and end of the year are as follows: 4 5 End of Beginning of Year 6 Cash $57,910 $53,280 7 Accounts receivable 41,520 39,370 8 Inventories 56,690 59,940 9 Prepaid expenses 6,370 5,060 10 Accounts payable 54,260 11 Wages payable 29,650 50,400 32,930 12 13 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method.
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