Problem 11-4A

Seved 2 Problem 11-3A Calculate operating activities--indirect method (LO11-3) 6,66 points Portions of the financial statements for Alliance Technologies are provided below. Book $304,000 References ALLIANCE TECHNOLOGIES Income statement For the year ended December 31, 2021 Net sales Expenses cost of goods sold $184,000 Operating expenses 59,000 Depreciation expense 15,900 Income tax expense 21,500 Total expenses Net income 280,400 $ 23,600 ALLIANCE TECHNOLOGIES Selected Balance Sheet Data December 31, 2021, compared to December 31, 2020 Decrease in accounts receivable $ 5,900 Increase in inventory 12,900 Decrease in prepaid rent 8.900 Increase in salaries payable 4,900 Decrease in accounts payable 7,900 Increase in income tax payable 19,600 Required: Prepare the operating activities section of the statement of cash flows for Alliance Technologies using the indirect outflows and any decrease in cash as negative amounts.) ALLIANCE TECHNOLOGIES Statement of Cash Flow (partial MC GE HIN ved Ch 11 HWA 2 Decrease in accounts payable Increase in income tax payable 7,700 19,600 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.) 6.66 point ALLIANCE TECHNOLOGIES Statement of Cash Flows (partial) For the Year Ended December 31, 2021 Print Cash Flows from Operating Activides Adjustments to reconcile net income to net cash flows from operating activities Net cash flows from operating activities $ 3,640 GE