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The net income reported on the income statement for the current year was $141,800. Depreciation recorded on store equipment for the year amounted to $23,400.

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The net income reported on the income statement for the current year was $141,800. Depreciation recorded on store equipment for the year amounted to $23,400. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: Beginning of Year of Year End Cash $57,430 $52,840 39,050 41,180 56,220 59,450 Accounts receivable (net) Merchandise inventory Prepaid expenses Accounts payable (merchandise creditors) Wages payable 6,320 5,020 53,810 49,990 29,400 32,660 a. Prepare the Cash Flows from (used for) Operating Activities section of the statement of cash cows, 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 operating activities: Un Adjustments to reconcile net income to get cash flows from (used for operating activities: Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and abilities: o Net cash flow from operating activities of accounting. For example revenues are b. Cash flows from operating activities differ from net income because it does not use the recorded on the income statement when

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