Saved Homework Problem 11-6A Calculate operating activities-direct method (LO11-7) Portions of the financial statements for Alliance Technologies are provided below. es eBook $385,000 Ask ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2021 Net sales Expenses: Cost of goods sold $225,000 Operating expenses 68,000 Depreciation expense 16,800 Income tax expense 26,000 Total expenses Net income ferences 335,800 $ 49,200 ALLIANCE TECHNOLOGIES Selected Balance Sheet Data December 31, 2021, compared to December 31, 2020 Decrease in accounts receivable $ 6,800 Increase in inventory 13,800 Decrease in prepaid rent 9,800 Increase in salaries payable 5,800 Decrease in accounts payable 8,800 Increase in income tax payable 23,200 Required: Prepare the operating activities section of the statement of cash flows for Alliance Technologies using the direct meth outflows as negative amounts.) Ch 11 Homework 2 December 31, 2021, compared to December 31, 2020 Decrease in accounts receivable $ 6,800 Increase in inventory 13,800 Decrease in prepaid rent 9,800 Increase in salaries payable 5,800 Decrease in accounts payable 8,800 Increase in income tax payable 23,200 2.25 points eBook Required: Prepare the operating activities section of the statement of cash flows for Allia outflows as negative amounts.) Ask References ALLIANCE TECHNOLOGIES Statement of Cash Flows (partial) For the Year Ended December 31, 2021 Cash Flows from Operating Activities: Cost of goods sold Operating expense Depreciation expense Cash paid for income taxes Net cash flows from operating activities $ Mr