The net income reported on the income statement for the current year was $321,605. Depreciation recorded on fixed assets and amortization of patents for the year were $30,791 and $9,835, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: Cash End Accounts Receivable Inventories Prepaid Expenses Accounts Payable (merchandise creditors) Beginning $69,988 104,793 88,315 8,533 63,399 $39,486 124,571 112,921 2,592 48,803 What is the amount of the net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? O a. $308,122 O b. $377,940 O c. $317,847 Od. $309,192

The net income reported on the income statement for the current year was $321,605. Depreciation recorded on fixed assets and amortization of patent: for the year were $30,791 and $9,835, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: What is the amount of the net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? 1. $303.122 b. $377.940 c. $317847 d. $309,192