Chisholm Associates uses the indirect method to prepare the operating activities section of the statement of cash flows. The following accounts and balances were drawn from the company's accounting records: Beg. Bal.End. Bal.Accounts receivable $60,000 $80,000 Prepaid insurance 9,200 2,000 Accounts payable 48,000 51,600 Unearned revenue 12,800 7,600 Net income for the period was $80,000. What is the net cash flows from operating activities?
A. $65,600
B. $76,000
C. $94,400
D. $70,400
Answer: A
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