The net income reported on the income statement for the current year was $271,502. Depreciation recorded on fixed assets and amortization of patents for the year were $35,824 and $8,740, 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 |
$43,481 |
$66,030 |
| Accounts receivable |
$125,430 |
$104,375 |
| Inventories |
$101,485 |
$84,690 |
| Prepaid expenses |
$2,352 |
$8,746 |
| Accounts payable (merchandise creditors) |
$47,385 |
$75,247 |
What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?