Hamburger Heaven's income statement for the current year and selected balance sheet data for the current and prior years ended December 31 are presented below Incone Statenent Sales Revenue 52,060 Expenses: Cost of Goods Sold 900 Depreciation Expense 200 Salaries and Wages Expense 500 Rent Expense 250 Insurance Expense Interest Expense Utilities Expense Net Income 20 Be 60 Se 5 Selected balance sheet Accounts Current Year Inventory 82 Accounts Receivable 380 Accounts Payable 200 Salaries/Hages Payable 20 Utilities Payable 20 Prepaid Ment 2 Prepaid Insurance 14 Prior Year 560 450 210 20 80 10 5 TIP Prepaid Rent decreased because the amount token out of Prepaid Rent (and subtracted from net income as Rent Expense) was more than the amount paid for rent in cash during the current year Required: Prepare the cosh flows from operating activities section of the statement of cash flows using the direct method TIP Convert the cost of goods sold to cash paid to suppliers by adding the increase in inventory and adding the decrease in accounts payable (Amounts to be deducted should be indicated with a minus sign) (50) HAMBURGER HEAVEN statomnant of Cain Flows Pamals For the Year Ended December 31 Cash Flows from Operating Activities Cash Payments for interest Cash Payments for insurance Cash Payments for Sales and Wages Cash Payments for Umies Cash Payments to Suppliers Cash Payments for Rent Cash Receipts from Customers Net Cash Provided by Operating Acties 5 (60)