Prepare the operating activities section of the statement of cash flows for Alliance Technologies using theindirect method. (List cash outflows as negative amounts.)

Problem 11-3A Calculate operating activities-indirect method (LO2) Portions of the financial statements for Alliance Technologies are provided below ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2015 Net sales Expenses: S 365,000 Cost of goods sold Operating expenses Depreciation expense Income tax expense $215,000 66,000 16,600 25,000 Total expenses 322,600 Net income $ 42,400 ALLIANCE TECHNOLOGIES Selected Balance Sheet Data December 31, 2015, compared to December 31, 2014 Decrease in accounts receivable Increase in inventory Decrease in prepaid rent Increase in salaries payable Decrease in accounts payable Increase in income tax payable $ 6,600 13,600 9,600 5,600 8,600 22,400 Required Prepare the operating activities section of the statement of cash flows for Alliance Technologies using the indirect method. (List cash outflows as negative amounts.)