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The net income reported on the income statement for the current year was $282,322. Depreciation...

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Accounting

The net income reported on the income statement for the current year was $282,322. Depreciation recorded on fixed assets and amortization of patents for the year were $35,372, and $8,687, 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 $35,100 $56,006
Accounts receivable 105,634 122,285
Inventories 85,244 109,903
Prepaid expenses 7,841 4,419
Accounts payable (merchandise creditors) 70,934 47,027

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

Select the correct answer.

$307,060

$388,176

$367,691

$310,815

Answer & Explanation Solved by verified expert
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