Reference no: EM131793929

Question - The net income reported on the income statement for the current year was $92,000. Depreciation recorded on store equipment for the year amounted to $18,600. Balance of the current asset and current liability accounts at the beginning and end of the year are as follows:

End of year beginning of year

Cash $46,700 $44,200

Account receivable (net) 32,300 31,100

Merchandise inventory 54,800 56,700

Prepaid expenses 4,000 3,500

Accounts payable (merchandise creditor) 46,000 42,900

Wages payable 21,400 23,600

Prepare the cash flows from operating activities section of the statement of cash flows, using the indirect method.