Selected balance sheet information and the income statement for Pioneer Industries for the current year are presented below. Selected Balance Sheet Accounts Prior Year Accounts Receivable $24,000 Merchandise Inventory 32,000 Prepaid Rent 1,600 Accounts Payable 17,600 Salaries and Wages Payable 3,200 Current Year $16,000 35,200 0 22,400 4,800 $480,000 Income Statement Sales Revenue Expenses: Cost of Goods Sold Depreciation Expense Salaries Expense Rent Expense Insurance Expense Interest Expense Utilities Expense Net Income 288,000 32,000 48,000 19,200 19,200 17,600 16,000 $ 40,000 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.) Pioneer Industries Cash Flows from Operating Activities Utilities Expense Net Income 16,000 $ 40,000 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.) 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