Portions of the financial statements for Alliance Technologies are provided below. ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2021 $365,000 Net sales Expenses: Cost of goods sold Operating expenses Depreciation expense $215,000 66,000 16,600 25,000 Income tax expense Total expenses 322,600 $ 42,400 Net income ALLIANCE TECHNOLOGIES Selected Balance Sheet Data December 31, 2021, compared to December 31, 2020 $ 6,600 13,600 9,600 5,600 8,600 22,400 Decrease in accounts receivable Increase in inventory Decrease in prepaid rent Increase in salaries payable Decrease in accounts payable Increase in incomee tax payable Required: Prepare the operating activities section of the statement of cash flows for Alliance Technologies using the direct method. (List cash outflows as negative amounts.) Answer is complete but not entirely correct. ALLIANCE TECHNOLOGIES Statement of Cash Flows (partial) For the Year Ended December 31, 2021 Cash Flows from Operating Activities: 6,600 X Decrease in accounts receivable (13,600) X Increase in inventory X 9,600X Decrease in prepaid rent X 5,600X Increase in salaries payable X Decrease in accounts payable (8,600) X X 22,400 X Increase in income tax payable X Net cash flows from operating activities $ 22,000