The net income reported on the income statement for the current year was $296200. Depreciation recorded on equipment and a building amounted to $88600 for
the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:
. Prepare the Cash Flows from Operating Activities section of the statement of cash flows using the indirect
method. If needed use the minus sign to indicate cash outflows or negative amounts.
b. If the direct method had been used would the net cash flow from operating activities have been the same? Yes or no?
Correct 1 of Item 2