Reference no: EM131804083

Question - The net income reported on the income statement of Hunter, Inc. for the current year was $150,000. Depreciation recorded on the building and equipment amounted to $45,000 for the year. Balances of the current assets and current liability accounts at the beginning and end of the year are as follows:

Cash

End of year $42,875

Beginning of year $36,250

Accounts Receivables

End of year 147,500

Beginning of year 137,500

Inventories

End of year 109,375

Beginning of year 93,750

Prepaid Expenses

End of year 9,250

Beginning of year 11,875

Accounts Payable

End of year 57,000

Beginning of year 40,000

Salaries Payable

End of year 7,625

Beginning of year 10,625

Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method.