Reference no: EM132579566
The net income reported on the income statement for the current year was $255,937. Depreciation recorded on fixed assets and amortization of patents for the year were $30,709, and $9,372, 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 $40,855 $60,219
Accounts receivable 102,424 128,797
Inventories 88,632 109,980
Prepaid expenses 8,754 4,629
Accounts payable (merchandise creditors)73,265 50,846
Question 1 : What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
a.$264,449
b.$269,206
c.$221,753
d.$343,739
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