Portions of the financial statements for Alliance Technologies are provided below ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2018 $ 315,000 Net sales Expenses Cost of goods sold Operating expenses Depreciation expense Income tax expense $190,000 61,000 16,100 22,500 Total expenses 289,600 Net income $ 25,400 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 $ 6,100 13,100 9,100 5,100 8,100 20,400 Required Prepare the operating activities section of the statement of cash flows for Alliance Technologies using the direct method ALLIANCE TECHNOLOGIES Statement of Cash Flows (partial) For the Year Ended December 31, 2018 Cash Flows from Operating Activities $321,100 (211,200) Cash received from customers Cash paid to suppliers Cash paid for operating expenses Cash paid for income taxes Net cash flows from operating activities $ 109,900