The following schedule relates the income statement with cash flows from operating activities, derived by both the direct and indirect nethods. Some elements necessary to complete the schedule are missing. 7 Required: Complete the schedule by determining each of the following missing elements: (Amounts to be deducted should be indicated with a ninus sign.) Ints Income Statement eBook References Sales Gain on sale of equipment Cash flows from Operating Activities Indirect Method Direct Method Net income Adjustments: $ 366 Decrease in accounts receivable 12 Cash received from customers 30 Gain on sale of equipment (30) (Not reportedno cash effect) Increase in inventory (18) Increase in accounts payable 24 Cash paid to suppliers (54) | 12 Cash paid to employees (15) Depreciation expense 15 (Not reportedno cash effect) Decrease in bond discount 9 Cash paid for interest (33) Decrease in prepaid insurance 15 Cash paid for insurance (12) Loss on sale of land 12 (Not reportedno cash effect) (39) Increase in income tax payable Cash paid for income taxes Net cash flows from operating activities $ 96 Net cash flows from operating activities (180) (42) Cost of goods sold Salaries expense Depreciation expense Interest expense Insurance expense Loss on sale of land Income tax expense Net Income (15) (27) 96 $