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Selected balance sheet information and the income statement for Fountainhead Corporation for the current year are presented below. Current Year $ 12.00 Selected Balance Sheet

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Selected balance sheet information and the income statement for Fountainhead Corporation for the current year are presented below. Current Year $ 12.00 Selected Balance Sheet Accounts Prior Year Accounts Receivable $ 17.00 Merchandise Tnventory Prepaid Rent Accounts Payable Salaries and Wages Payable 2. 12.200 4,200 $360,000 212, 20.000 Income Statenent Sales Revenue Expenses: Cost of Goods Sold Depreciation Expense Salaries Expense Rent Expense Insurance Expense Interest Expense Utilities Expense Net Income 14. 14.40 13,200 12,000 534,000 Required: Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method (Enter any deductions and cash outflows as a negative value) Required: Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. (Enter any deductions and cash outflows as a negative value.) FOUNTAINHEAD CORPORATION Cash Flows from Operating Activities Adjustments to reconcile net income to net cash provided by operating activities Changes in current assets and current liabilities

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