Cash flows from operating activities for both the indirect and direct methods are presented for Electronic Transformations.

Required:
Complete the following income statement for Electronic Transformations. Assume all accounts payable are to suppliers.

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Cash Flows from Operating Activities (Indirect method) Net income Adjustments to reconcile net income to net cash flows from operating activities: Depreciation expense Increase in accounts receivable Increase in accounts payable Increase in income tax payable Net cash flows from operating activities $36,000 9,000 (13,000) 8,000 6,000 $46,000