FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The net income reported on the income statement for the current year was $295,779. Depreciation recorded on fixed assets and amortization of patents for the year were $36,030 and $11,489, 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 $64,081 $48,791
Accounts Receivable 123,219 102,308
Inventories 100,310 86,859
Prepaid Expenses 3,248 6,877
Accounts Payable (merchandise creditors) 45,294 62,023

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

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