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What is the amount of cash flows from operating activities

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Question - The net income reported on the income statement for the current year was $295,306. Depreciation recorded on fixed assets and amortization of patents for the year were $35,984 and $11,635, 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

$55,258

$39,647

Accounts Receivable

125,663

103,490

Inventories

108,205

84,864

Prepaid Expenses

4,229

8,520

Accounts Payable (merchandise creditors)

52,884

77,788

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

a. $370,952

b. $276,798

c. $297,411

d. $273,525

Reference no: EM132477326

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