Question Content Area

The net income reported on the income statement for the current year was $316,431. Depreciation recorded on fixed assets and amortization of patents for the year were $36,485 and $8,185, 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	$46,155	$57,098
Accounts Receivable	120,261	108,038
Inventories	105,957	87,599
Prepaid Expenses	3,749	6,150
Accounts Payable (merchandise creditors)	53,445	62,347

What is the amount of the net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?

a. $366,269

b. $303,795

c. $324,019

d. $330,520