Determining Operating Cash Flows-Direct Method Taser Corporation's recent comparative balance sheet and income statement follow. Balance Sheets, December 31 Assets Cash and cash equivalents Accounts receivable (net) 2019 2020 $23,400 $38,280 40,800 40,800 Merchandise inventory Investments, long-term 93,600 102,000 12,000 Plant assets 202,200 216,000 Accumulated depreciation (52,800) (40,800) Total assets $307,200 $368,880 Liabilities and Stockholders' Equity Accounts payable $25,200 $22,800 Salaries payable 1,800 600 Income taxes payable 2,400 4,200 Bonds payable 120,000 120,000 Premium on bonds payable 4,800 4,440 Common stock, no-par Retained earnings Total liabilities and stockholders' equity $307,200 $368,880 144,000 186,600 9,000 30,240 Income Statement, For Year Ended December 31 2020 Sales revenue $144,000 Cost of goods sold (57,600) Depreciation expense (7,200) Salaries expense (26,400) Income tax expense (12,000) Interest expense (8,400) Other expenses (2,760) Gain on sale of plant assets 3,600 Net income $33,240 Additional information Additional information 1. Purchased a plant asset, $36,000; issued capital stock in full payment. 2. Purchased a long-term investment in equity securities for cash, $12,000. 3. Declared and paid cash dividend, $12,000. 4. Sold a plant asset for $6,000 cash (cost, $21,600; accumulated depreciation, $19,200). 5. Sold capital stock, 600 shares at $11 per share cash. Prepare the operating activities section of the statement of cash flows, using the direct method. Note: Use negative signs with amounts for cash outflows. Cash Flows from Operating Activities Collections from customers Payments to suppliers Payments for salaries Payments for income taxes $ 0 0 0 0 Payments for interest Other expenses 0 0 Net cash provided (used) by operating activities $ 0