ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2015

Net sales

$

301,000

Expenses:

Cost of goods sold

$181,000

Operating expenses

56,000

Depreciation expense

15,600

Income tax expense

20,000

Total expenses

272,600

Net income

$

28,400

ALLIANCE TECHNOLOGIES
Selected Balance Sheet Data
December 31, 2015, compared to December 31, 2014
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

Prepare the operating activities section of the statement of cash flows for Alliance Technologies using the indirect method. (List cash outflows as negative amounts.)