The net income reported on the income statement for the current year was $250,771. Depreciation recorded on fixed assets and amortization of patents for the year were $35,093 and $10,838, 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: $50,000 $60,000
Accounts receivable: 112,000 108,000
Inventories: 105,000 93,000
Prepaid expenses: 4,500 6,500
Accounts payable-
(merchandise creditors) : 75,000 89,000
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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