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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 38,50e Prepaid Rent 2,500 Accounts Payable 20,000 26,000 Salaries and Wages Payable 5,000 7,500 $525,000 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 21,090 19,250 17.500 $ 58,750 . 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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