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Discuss cash flows prepared by the indirect method

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The net income reported on the income statement for the current year was $267,821. Depreciation recorded on fixed assets and amortization of patents for the year were $37,396 and $11,637, 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 $42,939 $51,812
Accounts receivable $125,953 $103,859
Inventories $109,726 $83,583
Prepaid expenses $4,514 $6,525
Accounts payable (merchandise creditors) $51,515 $74,243

What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?

Select the correct answer.

$247,900

$337,544

$243,055

$268,617

Reference no: EM131776473

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