The net income reported on the income statement for the current year was $320,000. Depreciation recorded on equipment and a building amounted to $96,000 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $ 89,600 $ 96,000 Accounts receivable (net) 112,000 118,400 Inventories 224,000 200,000 Prepaid expenses 12,800 14,400 Accounts payable (merchandise creditors) 96,000 104,000 Salaries payable 16,000 13,600 a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. b. If the direct method had been used, would the net cash flow from operating activities have been the same? Explain.