Problem 11-3A Calculate operating activities-indirect method (LO11-3) Portions of the financial statements for Alliance Technologies are provided below. $302,000 ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2021 NE Sales Expenses Cost of goods sold $182,000 Operating expenses 57.000 Depreciation expense 15,700 Income tax expense 20,500 Total expenses Net income 275.200 $ 26,800 ALLIANCE TECHNOLOGIES Selected Balance Sheet Data December 31, 2021, compared to December 31, 2020 Decrease in accounts receivable $ 5,700 Increase in inventory 12,700 Decrease in prepaid rent 8,700 Increase in salaries payable 4,700 Decrease in accounts payable 7,700 Increase in income tax payable 18,800 Required: Prepare the operating activities section of the statement of cash flows for Alliance Technologies using the indirect method. (List ca outflows and any decrease in cash as negative amounts.) ALLIANCE TECHNOLOGIES Statement of Cash Flows (partial) For the Year Ended December 31, 2021 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 + $ 0 9 2 06 Net cash flows from operating activities 6 SI