Tamarisk Company reported net income of $240,000 for the current year. Depreciation recorded on buildings and equipment amounted to $77,000 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $22,000 $17,000 Accounts receivable 23,000 39,000 Inventory 50,500 70,000 Accounts payable 11,700 19,600 Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) TAMARISK COMPANY Partial Statement of Cash Flows Net Income /(Loss) $ 240000 Adjustments to reconcile net income to Depreciation Expense Decrease in Accounts Receivable 77000 Decrease in Inventory 16000 Decrease in Accounts Payable boere 19500 Decrease in Accounts Payable -7900 Net Cash Provided by Operating Activities $ 344600 e Textbook and Media