The income statement disclosed the following items for the year: Depreciation expense $41,600 Gain on disposal of equipment 24,290 Net income 365,100 The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable $6,490 Inventory (3,690) Prepaid insurance (1,380) Accounts payable (4,400) Income taxes payable 1,380 Dividends payable 970 a. Prepare the Cash Flows from (used for) Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Net cash flows from operating activities b. Why is net cash flows from operating activities different than net income? Cash flows from operating activities is based on of accounting. of accounting, whereas net income is computed using