Ch.6 34. Alford Company and its 80 percentowned subsidiary, Knight, have the following income statements for 2014: Alford Knight Revenues .............................. 500,010) $030,000) Cost ofgoodssold ....................... 300190 140.000 Depreciation and unionization .............. 40,010 10,000 Otheremenses ......................... 20,000 20,000 Gain on sale of equipment ................. (30,0001 -0- Entity in airings of Knight ................ (36,2001 -0- Netincome .......................... $006ng S 560m) Additional Information for 2014 0 Intraentity inventory transfers during the year amounted to $90,000. All intra entity transfers were downstream from Alford to Knight. ' Unrealized inventory profits at January 1 were $6,000, but at December 31, they are $9,000. 0 Annual excess amortization expense resulting from the acquisition is $11,000. 0 Knight paid dividends totaling $20,000. 0 The noncontrolling interest's share of the subsidiary's income is $9,800. ' During the year, consolidated inventory rose by $11,000 while accounts receivable and accounts payable declined by $8,000 and $6,000, respectively. Using either the direct or indirect method, compute net cash flows from operating activities during the period for the business combination