$301,000 ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2021 Net sales Expenses: Cost of goods sold $ 181,000 Operating expenses 56,000 Depreciation expense 15,600 Income tax expense 20,000 Total expenses Net income 272,600 $ 28, 400 ALLIANCE TECHNOLOGIES Selected Balance Sheet Data December 31, 2021, compared to December 31, 2020 Decrease in accounts receivable $ 5,600 Increase in inventory 12,600 Decrease in prepaid rent 8,600 Increase in salaries payable 4,600 Decrease in accounts payable 7,600 Increase in income tax payable 18,400 Required: Prepare the operating activities section of the statement of cash flows for Alliance Technologies using the direct method. (List cash outflows as negative amounts.) Answer is not complete. ALLIANCE TECHNOLOGIES Statement of Cash Flows (partial) For the Year Ended December 31, 2021 Cash Flows from Operating Activities: Cash received from customers Cash paid to suppliers Cash paid for operating expenses Cash paid for income taxes Net cash flows from operating activities 0