24) The income statement and a partial balance sheet of Hart Alloy Company for the year ended December 31, 2018 is presented below. Prepare the operating activities section of the statement of cash flows using the direct method. Accrued Liabilities relate to miscellaneous operating expenses. Hart Alloy Company Income Statement For the Year Ended December 31, 2018 $1,500,000 1,170,000 $330,000 Sales Revenues Cost of Goods Sold Gross Profit Operating Expenses: Salaries Expense Depreciation Expense Miscellaneous Expenses Net Income $210,000 60,000 30,000 300,000 $30.000 Hart Alloy Company Partial Balance Sheet December 31, 2018 and 2017 Cash Accounts Receivable (net) Inventories Accrued Liabilities Accounts Payable (Merchandise Inventory) Salaries Payable 2018 $240,000 150,000 306,000 13,500 174,000 22,500 2017 $195,000 150,000 258,000 15,000 153,000 18,000