Selected balance sheet information and the income statement for Pioneer Industries for the current year are presented below. Selected Balance Sheet Accounts Accounts Receivable Inventory Prepaid Rent Accounts Payable Salaries and Wages Payable Prior Year Current Year $ 24,000 $ 16,000 32,000 35,200 1,600 17,600 22,400 3,200 4,800 Sales Revenue Expenses: Income Statement Cost of Goods Sold Depreciation Expense Salaries Expense Rent Expense Insurance Expense Interest Expense Utilities Expense Net Income Required: $ 480,000 288,000 32,000 48,000 19,200 19,200 17,600 16,000 $ 40,000 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.) Net Income Pioneer Industries Cash Flows from Operating Activities Adjustments to reconcile net income to net cash provided by operating activities: Depreciation Expense Changes in current assets and current liabilities: Accounts Receivable Inventory Prepaid Rent Accounts Payable Salaries and Wages Payable Net cash provided by operating activities < Prev 22 of 23 Next >