The net income reported on the income statement for the current year was $$261,600.$ Depreciation recorded on equipment and a building amounted to $$78,200$ for the

year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:

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:

I

Adjustments to reconcile net income to net cash flows from $($used for$)$ operating activities:

Changes in current operating assets and liabilities:

Decrease in accounts receivable grad$$

Increase in inventories

Decrease in prepaid expenses $$