The net income reported on the income statement for the current year was $270,000. Depreciation recorded on fixed assets and amortization of patents for the year were $50,000 and $4,000, respectively. Balances of current asset and current liability accounts at the end and beginning of the year are as follows: Cash Accounts receivable Inventory Prepaid expenses Accounts payable (merchandise creditors) 91,000 What is the amount of net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? End Beginning $60,000 $70,000 17 111,000 115,000 81,000 93,000 8,500 6,500 105,000 O a. $352,000 O b. $412,000 O c. $174,000 O d. $342,000

1. 5352,000 b. $412,000 c. 3174,000 a. 5342,000