Question 4 Plough Company reported net income of $180,000 for the current year. Depreciation recorded on buildings and equipment amounted to $80,000 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 Cash Accounts receivable Inventory Prepaid expenses Accounts payable Income taxes payable $20,000 24,000 50,000 9,500 12,000 1,600 Beginning of Year $15,000 32,000 65,000 5,000 18,000 1,200 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 e.g. -15,000 or in parenthesis e.g. (15,000).) PLOUGH COMPANY Partial Statement of Cash Flows Adjustments to reconcile net income to tA $