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Nanning Company reports net income of $96,700. The accounting records reveal Depreciation Expense of $50,500 as well as increases in Prepaid Rent, Accounts Payable,

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Nanning Company reports net income of $96,700. The accounting records reveal Depreciation Expense of $50,500 as well as increases in Prepaid Rent, Accounts Payable, and Income Tax Payable of $39,000, $23,900, and $21,300, respectively. Required: Prepare the operating activities section of Electronic Wonders' statement of cash flows using the indirect method. (Amounts to be deducted and negative values should be indicated by a minus sign.) NANNING COMPANY Statement of Cash Flows (partial) Cash Flows from Operating Activities: Adjustments for noncash effects: Changes in current assets and current liabilities: Net cash flows from operating activities

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