Show Me How Calculator Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $146,300. Depreciation recorded on store equipment for the year amounted to $24,100. Balances of the current asset and current ability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $56,760 Accounts receivable (net) 40.700 Tnventories Prepaid expenses Accounts payable (merchandise creditors) Wages payable 55,570 6,240 53,180 29,060 $51,650 38,170 58,110 4,910 48,860 31,920 a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the Indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments Statement of Cash Flows (partial Cashflows from operating activities Adjustments to record net income to net cash flow from operating activities: Oanges in current operating and Check My Work more Check My Worsemang ebook Show Me How Calculator Accounts receivable (net) Inventories $56,760 40,700 55,570 6,240 53,180 29,060 $51,650 38,170 58,110 4,910 Prepaid expenses 48,360 Accounts payable (merchandise creditors) Wages payable 31,920 . Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments Statement of Cash Flows partial Adjustments to recorde net income to net cash flow from operating activities: Canges incurrentering and be et cash flow from operating activities of accounting. For example revenues are recorded on b. Cash flows from he eating activities differs from net income because it does not use the h en Check My Work more Check My Woes ning Previous Next >