Reference no: EM133042605

Problem - Chew Corporation prepares its statement of cash flows using the indirect method of reporting operating activities. Net income for the 2018 fiscal year was $1,264,000. Depreciation expense of $154,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash: Increase in accounts receivable $166,000 Decrease in inventories 122,000 Decrease in prepaid expenses 76,000 Decrease in salaries payable 44,000 Increase in income taxes payable 58,000. Prepare the cash flows from operating activities for 2018.