The net income reported on the income statement for the

Reference no: EM13593331

The net income reported on the income statement for the current year was $271,502. Depreciation recorded on fixed assets and amortization of patents for the year were $35,824 and $8,740, 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	$43,481	$66,030
Accounts receivable	$125,430	$104,375
Inventories	$101,485	$84,690
Prepaid expenses	$2,352	$8,746
Accounts payable (merchandise creditors)	$47,385	$75,247

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

Reference no: EM13593331

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The net income reported on the income statement for the

Reference no: EM13593331

Reference no: EM13593331

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