Cash flows from operating activities Presented below is the income statement of Angola, Inc. Sales $324,000 Cost of goods sold $214,000 Gross profit $110,000 Operating expenses $67,000 Income before income taxes $43,000 Income taxes $17,200 Net income $25,800 In addition, the following information related to net changes in working capital is presented. Debit Credit Cash $10,600 Accounts receivable $2,400 Inventories $3,600 Salaries payable (operating expenses) $12,000 Accounts payable $15,000 Income taxes payable $1,400 Depreciation expense for the year was $14,700 Deferred tax liability account increased $1,800 Required: Prepare a schedule computing the net cash flow from operating activities that would be shown on a statement of cash flows -(b) using the direct method