Problem 11-3A Calculate operating activities-indirect method (LO11-3) Portions of the financial statements for Alliance Technologies are provided below. ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2021 Net sales Expenses: $325,000 Cost of goods sold $195,000 Operating expenses 62,000 Depreciation expense 16,200 Income tax expense 23,000 Total expenses 296,200 Net income $ 28,800 ALLIANCE TECHNOLOGIES Selected Balance Sheet Data December 31, 2021, compared to December 31, 2020 Decrease in accounts receivable $ 6,200 Increase in inventory 13,200 Decrease in prepaid rent 9,200 Increase in salaries payable 5,200 Decrease in accounts payable 8,200 Increase in income tax payable 20,800 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 $ 0