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The net income reported on the income statement for the current year was $297,498. Depreciation recorded on fixed assets and amortization of patents for the
The net income reported on the income statement for the current year was $297,498. Depreciation recorded on fixed assets and amortization of patents for the year were $36,331 and $11,890, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $36,556 $52,542 Accounts Receivable 123,804 108,817 Inventories 108,512 93,873 Prepaid Expenses 4,718 8,618 Accounts Payable (merchandise creditors) 45,618 67,351 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? Oa. $298,260 Ob. $316,093 Oc. $371,700 Od. $280,013
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