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The net income reported on the income statement for the current year was $288,387. Depreciation recorded on fixed assets and amortization of patents for
The net income reported on the income statement for the current year was $288,387. Depreciation recorded on fixed assets and amortization of patents for the year were $30,917 and $9,942, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows Cash Accounts Receivable Inventories Prepaid Expenses Accounts Payable (merchandise creditors) End Beginning $46,968 $60,575 127,555 101,393 103,161 93,721 2,435 8,7261 54,476 79,361 What is the amount of the net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? Ca. $275,050 b. $377,144 c5286515 d. $291,644
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