S13-2 (similar to) Question Help Incredible Corporation began the year with accounts receivable. Inventory and prepaid expenses totaling 584,000. At the end of the year, Incredible had a total of $72,000 for these current assets. At the beginning of the year, it owed current liabilities of $45,000, and at your end, current is totaled $30,000 Net Income for the year was 584,000. Included in net income was a $1,000 gain on the sale of land and depreciation experise of $7,000 Show how Incredible should report cash flows from operating activities for the year. The company uses the Indirect method (Ude parentheses or a minus sign for numbers to be subtracted) Incredible Corporation Statement of Cash Flows-Operating Activities Section (Indirect Method) For the Year Ended Cash flows from operating activities Not income Adjustments to reconcile net income to ret cash provided by operating we Depreciation Decrease in counts receivable Inventory, and prepaid expenses Increase in counts receivatortory and prepaid experts Decrease in current abies Net cash provided by used for corting Choose from any intor enter any number in the inputs and then ack Checker All parts showing Clear All Check Aww