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Selected balance sheet information and the income statement for Pioneer Industries for the current year are presented below. Selected Balance Sheet Accounts Prior Year Current

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Selected balance sheet information and the income statement for Pioneer Industries for the current year are presented below. Selected Balance Sheet Accounts Prior Year Current Year Accounts Receivable $25,500 $17.500 Inventories 35,000 38,500 Prepaid Rent 2,500 Accounts Payable 20,000 26,000 Salaries and Wages Payable 5,000 7.500 5525,000 Income Statement Sales Revenue Expenses: Cost of Goods Sold Depreciation Expense Salaries Expense Rent Expense Insurance Expense Interest Expense utilities Expense Net Income 300,000 35,000 52.500 21,000 21,000 19.250 17.500 $50, 750 Required: 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.) Pioneer Industries 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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