Walker Company reports net income of $424,000 for the year ended December 31, 2010. It also reports $76,000 depreciation expense and a gain of $11,400 on the sale of machinery. Its comparative balance sheets reveal a $34,000 decrease in accounts receivable, $17,620 increase in accounts payable, $9,640 decrease in prepaid expenses, and $13,420 increase in wages payable. What is the net cash flows provided (used) by operating activities using the indirect method? rev: 05_03_2012

($563,280)

$304,000

$566,800

($304,000)

$563,280