Problem #13 of 19 13 The net income reported on the income statement for the current year was $295,000. Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $5,000, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $ 60,000 Accounts receivable Inventories 50,000 112,000 105,000 4,500 75,000 108,000 93,000 6,500 89,000 Prepaid expenses Accounts payable (merchandise creditors) What is the net cash flow from operating activities reported on the statement of cash flows prepared by the indirect method? a. $312,000 ob. $208,000 c. $302,000 I'm Done Next Que Problem #14 of 19 13 Cash proceeds of $72,000 include a $12,000 gain on the sale of land and the $60,000 cost (book value) of the land. Which of the following is true? a. The entire cash proceeds appear as a cash inflow in the Investing Activities section. b. The $12,000 gain is deducted from net income in the Operating Activities section. c. The book value does not appear as a cash inflow or outflow anywhere on the statement. od. All of these choices are correct. 16 17 19 Problem #15 of 19 13 14 Cash dividends paid would be shown on the statement of cash flows under _______ activities. a. investing b. operating c. directing . d. financing 15 16 17