The net income reported on the income statement for the current year was $295,306. Depreciation recorded on fixed assets and amortization of patents for the year were $35,984 and $11,635, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Cash $55,258 Accounts Receivable 125,663 Inventories 108,205 Prepaid Expenses 4,229 Accounts Payable (merchandise creditors) 52,884 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? a. $370,952 b. $276,798 c. $297,411 d. $273,525 Ch 16-4 Test The net income reported on the income statement for the current year was $295,306. Depreciation recorded on fixed assets and amortization of patents for the year were $35,984 and $11,635, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $55,258 $39,647 Accounts Receivable 125,663 103,490 Inventories 108,205 84,864 Prepaid Expenses 4,2298 ,520 Accounts Payable (merchandise creditors) 52,884 77,788 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? Oa. $370,952 Ob. $276,798 c. $297,411 Od. $273,525