takeAssignment/takeAssignmentMain.doinvokera&takeAssignments C eBook Show Me How Cathrows from Operating Activities - Indirect Method The income statement disclosed the following items for year Depreciation expense $58,000 Gain on disposal of equipment 33,830 Net income 448,900 The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable $9,030 Inventory (5.140) Prepaid insurance (1.930) Accounts payable (6,120) Income taxes payable 1,930 Dividends payable 1,350 a. Prepare the Cash Flows from Operating Activitiet 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) For the year ended XXX Cash nows from operating activities Adjustments to reconcile net income to net cash flow from operating activities! Onges in current operating assets and liabilities Check My Work C eBook # Show Me How Prepaid insurance (1.930) Accounts payable (6.120) Income taxes payable 1.930 Dividends payable 1,350 a. Prepare the Cash Mows 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) For the year ended xxx Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and Babies 110 II 0 Net cash flow from operating activities I b. Why net cash flows from operating activities different than net income? Cash flow from operating activities is based on of accounting, whereas net income is computed using of accounting takeAssignment/takeAssignmentMain.doinvokera&takeAssignments C eBook Show Me How Cathrows from Operating Activities - Indirect Method The income statement disclosed the following items for year Depreciation expense $58,000 Gain on disposal of equipment 33,830 Net income 448,900 The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable $9,030 Inventory (5.140) Prepaid insurance (1.930) Accounts payable (6,120) Income taxes payable 1,930 Dividends payable 1,350 a. Prepare the Cash Flows from Operating Activitiet 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) For the year ended XXX Cash nows from operating activities Adjustments to reconcile net income to net cash flow from operating activities! Onges in current operating assets and liabilities Check My Work C eBook # Show Me How Prepaid insurance (1.930) Accounts payable (6.120) Income taxes payable 1.930 Dividends payable 1,350 a. Prepare the Cash Mows 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) For the year ended xxx Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and Babies 110 II 0 Net cash flow from operating activities I b. Why net cash flows from operating activities different than net income? Cash flow from operating activities is based on of accounting, whereas net income is computed using of accounting