The net income reported on the income statement for the current year was $250,000. Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Accounts receivable $108,000 $112,000 Inventories 105,000 93,000 Prepaid expenses 6,500 4,500 Accounts payable 89,000 75,000 (merchandise creditors) What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? $303,000 $271,000