Portions of the financial statements for Alliance Technologies are provided below.

ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2018

Required: Prepare the operating activities section of the statement of cash flows for Alliance Technologies using the indirect method. (List cash outflows and any decrease in cash as negative amounts.)

Portions of the financial statements for Alliance Technologies are provided below ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2018 Net sales Expenses $ 335,000 Cost of goods sold Operating expenses Depreciation expense Income tax expense $200,000 63,000 16,300 23.500 Total expenses 302,800 Net income $32,200 ALLIANCE TECHNOLOGIES Selected Balance Sheet Data December 31, 2018, compared to December 31, 2017 Decrease in accounts receivable Increase in inventory Decrease in prepaid rent Increase in salaries payable Decrease in accounts payable Increase in income tax payable S 6,300 13,300 9,300 5,300 8,300 21,200 Required Prepare the operating activities section of the statement of cash flows for Alliance Technologies using the indirect method (List cash outflows and any decrease in cash as negative amounts.) ALLIANCE TECHNOLOGIES Statement of Cash Flows (partial) For the Year Ended December 31, 2018 Please use these catagories for the boxes to the left, PLEASE select one of these from below and fill in the box Decrease in accounts payable Decrease in accounts receivable Decrease in income tax payable Decrease in inventory Decrease in prepaid rent Decrease in salaries payable Depreciation expense Increase in accounts payable Increase in accounts receivable Increase in income tax payable Increase in inventory Increase in prepaid rent Increase in salaries payable Net income Net loss Operating expense Cash Flows from Operating Activities: Adjustments to reconcile net income to net cash flows from operating activities Net cash flows from operating activities