Portions of the financial statements for Alliance Technologies are provided below. $295,000 ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2021 Net sales Expenses: Cost of goods sold $175,000 Operating expenses 50,000 Depreciation expense 15,000 Income tax expense 17,000 Total expenses Net income 257,000 $ 38,000 ALLIANCE TECHNOLOGIES Selected Balance Sheet Data December 31, 2021, compared to December 31, 2020 Decrease in accounts receivable Increase in inventory Decrease in prepaid rent Increase in salaries payable Decrease in accounts payable Increase in income tax payable $ 5,000 12,000 8,000 4,000 7,000 16,000 Required: Prepare the operating activities section of the statement of cash flows for Alliance Technologies using the indirect method. (List cas outflows and any decrease in cash as negative amounts.) ALLIANCE TECHNOLOGIES Statement of Cash Flows (partial) For the Year Ended December 31, 2021 Cash Flows from Operating Activities: Adjustments to reconcile net income to net cash flows from operating activities 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, 2021 Cash Flows from Operating Activities: Adjustments to reconcile net income to net cash flows from operating activities Net cash flows from operating activities $