The net income reported on the income statement for the current year was $149,300. Depreciation recorded on store equipment for the year amounted to $24,600. 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 $60,320 $54,890

Accounts receivable (net) 43,250 40,560

Inventories 59,050 61,750

Prepaid expenses 6,640 5,210

Accounts payable (merchandise creditors) 56,520 51,930

Wages payable 30,880 33,920

a. Prepare the Cash flows from operating activities section of the statement of cash flows, 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:

Net income - $_____

Adjustments to reconcile net income to net

cash flow from operating activities:

Depreciation -$______

Changes in current operating assets and liabilities: -$_____

Increase in accounts receivable -$_____

Decrease in inventories -$_____

Increase in prepaid expenses -$_____

Increase in accounts payable -$_____

Decrease in wages payable -$_____