End of Year Beginning of Year Cash $50,670 $46,110 Accounts receivable (net) 36,330 34,080 Inventories 49,610 51,870 Pre

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End Of Year Beginning Of Year Cash 50 670 46 110 Accounts Receivable Net 36 330 34 080 Inventories 49 610 51 870 Pre 1 (29.12 KiB) Viewed 19 times

End of Year Beginning of Year Cash $50,670 $46,110 Accounts receivable (net) 36,330 34,080 Inventories 49,610 51,870 Prepaid expenses 5,570 4,380 Accounts payable (merchandise creditors) 47,480 43,620 Wages payable 25,940 28,500 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 124,500 Adjustments to reconcile net income to net cilsh flow from operating activities: Depreciation 20,500 Changes in current operating assets and liabilities: Increase in accounts receivable 2,250 Decrease in inventories 2,260 Increase in prepaid expenses 1,190 Increase in accounts payable 3,860 Decrease in wages payable 2,560 Net cash flow from operating activities b. Cash flows from operating activities differs from net income because it does not use the ( of accounting. For example revenues are recorded on