The net income reported on the income statement for the current year was $267,821. Depreciation recorded on fixed assets and amortization of patents for the year were $37,396 and $11,637, 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 |
$42,939 |
$51,812 |
| Accounts receivable |
$125,953 |
$103,859 |
| Inventories |
$109,726 |
$83,583 |
| Prepaid expenses |
$4,514 |
$6,525 |
| Accounts payable (merchandise creditors) |
$51,515 |
$74,243 |
What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
Select the correct answer.
$247,900
$337,544
$243,055
$268,617