The net income reported on the income statement for the current year was $240,700, Depreciation recorded on equipment and a building amcunted to $72,000 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: eipts and cash payments for a specific period of time, such as a month or a yea a. Prepare the "Cash. Flows from Operating Activities" section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outlons, eash payments, decreases in cash, or any negative adjustments