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Q.2 The net income reported on the income statement for the current year was Rs.92,125. Depreciation recorded on store equipment for the year amounted to

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Q.2 The net income reported on the income statement for the current year was Rs.92,125. Depreciation recorded on store equipment for the year amounted to Rs.43,500. 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 Rs.70,150 Rs.66,500 Trade receivables (Net) 79,250 83.750 Merchandise Inventory 115,000 97,000 Prepaid expenses 8,000 7,500 Accounts payable 70.200 73,200 Wages payable 6,900 5,650 Required M-08 Prepare the cash flows from operating activities using indirect methods

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